Mineral Commodities Ltd. (ASX:MRC) announced a private placement of shares for gross proceeds of AUD 20,000,000 on May 31, 2012. The shareholders of the company approved the transaction in annual general meeting. This resolution will remain effective until three months of approval.

On October 24, 2012, the company announced a private placement of 170,588,235 common shares at AUD 0.085 per share for gross proceeds of AUD 14,500,000 to institutional and sophisticated investors. Mirabaud Securities LLP will serve as sole broker and book runner to the company. The company will issue shares in three tranches. The company will issue shares in its first tranche for gross proceeds of AUD 10,250,000 to institutional and sophisticated investors, in its second tranche for gross proceeds of AUD 3,400,000, and will issue shares to sophisticated investors who participated in the first tranche for AUD 850,000. The first tranche is expected to close on October 30, 2012. Existing directors will participate in the second tranche as per approval in December 2012.

On October 31, 2012, the company announced that it has issued 120,615,000 shares for gross proceeds of AUD 10,252,275.

On December 21, 2012, the shareholders of the company approved the issuance of 40,000,000 shares to Zurich Bay Holdings Pty Ltd in the second tranche within one month from the meeting and 9,937,000 shares in the third tranche within three months from the meeting.

On January 21, 2013, the company issued 40,000,000 shares to Zurich Bay Holdings Pty Ltd at AUD 0.085 per share for gross proceeds of AUD 3,400,000.

On January 24, 2013, Mineral Commodities Ltd. closed the transaction. The company issued 9,937,000 shares for gross proceeds of AUD 844,645 in its third and final tranche. The company issued a total of 170,552,000 shares for gross proceeds of AUD 14,496,920 in the transaction.