White Fox Ventures, Inc. (OTCPK:AWAW) announced that it has entered into a private placement agreement with new investor NQ Minerals PLC for common shares for gross proceeds of $2,500,000 on August 22, 2016. The investor will invest over the next eight months, with $150,000 having been sent upon execution of the agreement. Pursuant to the transaction, the investor will acquire a stake of up to 15% in the company. As part of the round, the investor has the right to name one member to the company's board of directors. The transaction will occur in tranches, with $100,000 to be received on September 30, 2016, $250,000 to be received on October 30, 2016, $250,000 to be received on November 30, 2016, $500,000 to be received on December 31, 2016, $500,000 to be received from January 31, 2016, $500,000 to be received on February 28, 2017, and $250,000 to be received on April 1, 2017. On the same day, the company announced that it has received $150,000 in the first tranche of the transaction.