XTL Biopharmaceuticals Ltd. (TASE:XTLB) announced a private placement of 1,400,000 American Depositary shares at $2 per share for gross proceeds of $2,800,000 on March 7, 2017. The company will also issue 1,400,000 warrants exercisable at $2.30 per share subject to a six month lock up. The securities will be issued pursuant to exemption under Regulation D. The transaction is expected to be completed by March 13, 2017.