Peel Mining Limited (ASX:PEX) announced a private placement of 6,000,000 shares at AUD 0.315 per share for gross proceeds of AUD 1,890,000 on January 9, 2013. The company will issue the shares to new investor Acorn Capital Limited which will hold a 5.13% stake in the company upon completion of the transaction. The transaction is expected to close on January 15, 2013.