Kimberley Diamonds Ltd (ASX:KDL) announced a private placement of up to 700,000,000 shares at AUD 0.002 per share for gross proceeds of AUD 1,400,000 on January 23, 2017. The company will issue one option for every share issued exercisable at AUD 0.003 per share expiring in July 2020. The transaction will include participation from sophisticated and professional investors. The transaction will take place in two tranches. The first tranche will consist of 374,000,000 shares and second tranche will consist of 326,000,000 shares. The options will be issued subject to the shareholder approval.