Latin Resources Limited (ASX:LRS) announced a private placement 13,333,333 common shares at AUD 0.15 per share for gross proceeds of AUD 2,000,000 on December 3, 2012. The company will accept oversubscription. BCP Equities Pty Ltd will serve as placement agent to the company and will receive 6% as agent fee. The company will announce final applications for the transaction on or before December 21, 2012.

On December 21, 2012, Latin Resources Limited closed the first tranche. The company issued 13,483,333 shares for gross proceeds of AUD 2,022,500. The transaction was oversubscribed. The allotment and quotation of shares is expected to occur on or before December 31, 2012.

On January 9, 2013, Latin Resources Limited closed the transaction. The company issued 13,517,669 shares for gross proceeds of AUD 2,027,650.