Trio Resources, Inc. (OTCPK:TRII) announced a private placement of equity for gross proceeds of $500,000 on July 3, 2014. The minimum investment accepted from any outside investor will be $10,000. The company will issue securities pursuant to exemption provided under Regulation D.

As of July 18, 2014, the company has received $160,000 in its first tranche close from two investors.

On August 7, 2014, Trio Resources, Inc. closed the transaction. The company has issued 27,250,000 shares at $0.02 per share for gross proceeds of $545,000 to certain accredited investors. The transaction was conducted without an underwriter or placement agent.