Orocobre Limited (ASX:ORE) announced a private placement of 40,476,190 shares at AUD 2.1 per share for gross proceeds of AUD 84,999,999 on January 22, 2016. The transaction will include participation from domestic and international institutional and sophisticated investors. Of the total placement shares, approximately 25,350,551 will be immediately issued pursuant to its existing 15% capacity, with the balance of the shares to be issued subject to and upon receipt of shareholders' approval, to be sought at a General Meeting to be held on or about 29 February 2016.