Vmoto Limited (ASX:VMT) announced a private placement of 22,727,273 common shares at a price of AUD 0.055 per share for gross proceeds of AUD 1,250,000.015 on January 12, 2017. The shares are issued at discount. The company will also issue one option for every five shares subscribed. The options will be issued in two tranches. Each one half of the options having an exercise price of AUD 0.065 and the other half having an exercise price of AUD 0.085 till 3 years after the issue. The transaction is expected to close on or around 17 January, 2018. The company will not pay any brokerage or commission fees in relation to the transaction. The transaction is subject to approval from the shareholders of the company.