Stargroup Limited (ASX:STL) announced a private placement of 123,642,857 shares at a price of AUD 0.028 per share for gross proceeds of AUD 3,462,000 on May 1, 2017. The transaction will involve participation from directors of the company for AUD 112,000, subject to shareholder approval, and other existing and new high net worth and institutional investors. The company will also issue options in the transaction for every share subscribed for, with each option exercisable at AUD 0.05 and expiring on or before November 30, 2018.