Enerji Ltd (ASX:ERJ) announced a private placement of 102,500,000 common shares at AUD 0.008 per share for gross proceeds of AUD 820,000 on October 29, 2012. The company will also issue one free attaching option with every two shares pursuant to the transaction.

On October 30, 2012, the company closed the first tranche of the transaction. The company issued 74,050,000 ordinary shares and 37,025,000 options for gross proceeds of AUD 592,400. The options will be exercisable at AUD 0.03 per share for a period expiring on June 30, 2015.

On November 2, 2012, the company closed the second tranche of the transaction. The company issued 6,375,000 ordinary shares and 3,187,500 options for gross proceeds of AUD 51,000. The options issued in this tranche will also expire on June 30, 2015.