K-TIG Limited announced a private placement of 11,428,571 new fully paid ordinary shares at an issue price of AUD 0.35 per share for gross proceeds of AUD 3,999,999.85 on February 15, 2022. The transaction will involve participation from to institutional and sophisticated investors, including a total of 428,571 shares are to be issued to directors, White and McIntosh and will be subject to shareholder approval to be sought at the earlier of an extraordinary general meeting of the company or an annual general meeting anticipated to be held in November 2022. The shares to be issued under the placement will rank equally with existing shares on issue in the company. The transaction is expected to close on February 18, 2022.