XCD Energy Limited (ASX:XCD) announced a private placement of 200,000,000 common shares at a price of AUD 0.01 per share for gross proceeds of AUD 2,000,000 on October 23, 2019. The company will issue shares in two tranches. The company will issue 48,000,000 shares in the first tranche and 152,000,000 shares in the second tranche. The transaction is subject to shareholder’s approval in a general meeting to be held on or around November 29, 2019.