Technology Metals Australia Limited (ASX:TMT) announced a private placement of 17,510,833 common shares at a price of AUD 0.26 per share for gross proceeds of AUD 4,552,817 on February 18, 2019. The company will also issue 8,755,417 one for two free attaching options exercisable at AUD 0.40 expiring on or before May 24, 2020. The transaction will involve participation from strategic high net worth investors, offshore and domestic institutions. The issue of options is subject to shareholders approval to be obtained at the forthcoming general meeting.