Australian Pacific Coal Limited (ASX:AQC) announced an equity line of credit of shares with Australian Special Opportunity Fund, LP, managed by The Lind Partners, LLC for gross proceeds of AUD 5,250,000 on October 1, 2012. The investor will invest in the range of a minimum tranche amount AUD 75,000 to a maximum tranche amount of AUD 225,000 in monthly share subscriptions; through no more than 24 separate tranches, over the next two years. The company will also pay the investor a commencement fee in shares for value of AUD 200,000 at an issue price equal to the average daily volume weighted average price for the five trading days prior to the execution date and 8,000,000 shares as collateral security. The investor will hold 5.75% of the issued share capital of the company on completion.

On October 2, 2012, the company issued 9,569,378 shares at AUD 0.0209 per share for the gross proceeds AUD 0.2 million as commencement fee and 8,000,000 shares for no cash consideration as collateral security.

On October 31, 2012, the company announced that it has received AUD 75,000 in the second tranche closing. The company issued 4,687,500 shares at AUD 0.016 per share.

On November 29, 2012, the transaction was approved at the annual general meeting of the company. The share price will be 90% of the average three daily VWAP per share over 20 consecutive trading days, or 130% of the average of the daily VWAP per share over 20 consecutive trading days but subject to a maximum floor price of AUD 0.014 and a minimum base price of AUD 0.006. The company also issued 4,687,500 shares for proceeds of AUD 75,000 in the second tranche.

On December 31, 2012, the company announced that it has received AUD 75,000 in the third tranche closing. The company issued 5,000,000 shares at AUD 0.015 per share in this tranche.

On January 31, 2013, the company announced that it has received AUD 75,000 in fourth tranche closing. The company issued 6,250,000 shares at AUD 0.012 per share in this tranche.

On March 1, 2013, the company issued announced that it has received AUD 100,000 in fifth tranche closing. The company issued 9,090,909 shares at AUD 0.011 per share in this tranche. The company has received AUD 325,000 in the transaction till date.

On April 3, 2013, the company announced that it has received AUD 100,000 in sixth tranche closing. The company issued 10,000,000 shares at AUD 0.01 per share in this tranche. The company has received AUD 425,000 in the transaction till date.

On April 26, 2013, the company announced that it has received AUD 120,000 in seventh tranche closing. The company issued 13,333,333 shares at AUD 0.009 per share. The company has received AUD 545,000 in the transaction till date.

On May 3, 2013, the company announced that it issued 12,500,000 shares at AUD 0.01 per share for gross proceeds of AUD 125,000 in seventh tranche installment.

On June 4, 2013, the company announced that it issued 8,333,333 shares at AUD 0.012 per share for gross proceeds of AUD 100,000 in eighth tranche installment. The company has received AUD 770,000 till date.

On July 25, 2013, the company announced that it issued 12,500,000 shares at AUD 0.008 per share for gross proceeds of AUD 100,000. The company has received AUD 870,000. The transaction was not underwritten and no fees are payable in the transaction to any agent.

On August 2, 2013, the company issued 3,500,000 shares at AUD 0.009 per share for gross proceeds of AUD 31,500. The company has received AUD 901,500 in transaction till date.

On August 27, 2013, the company issued 14,285,714 shares at AUD 0.07 per share for gross proceeds of AUD 100,000. The company has received AUD 1,001,500 in the transaction till date.

On September 12, 2013, the company issued 21,428,571 shares at AUD 0.007 per share for gross proceeds of AUD 150,000. The company has received AUD 1,151,500 in the transaction till date.

On September 18, 2013, the company issued 10,000,000 shares at AUD 0.010 per share for proceeds of AUD 100,000. The company did not pay any other costs as part of the transaction. The company has received AUD 1,251,500 in funding from the transaction till date.

On October 25, 2013, the company announced that it has issued 11,111,111 shares at a price of AUD 0.009 for gross proceeds of AUD 100,000. The company has received AUD 1,351,500 in funding from the transaction till date.

On November 26, 2013, the company announced that it has issued 14,285,714 shares at a price of AUD 0.007 for gross proceeds of AUD 100,000. The company has received AUD 1,451,500 in funding from the transaction till date.

On January 17, 2014, Australian Pacific Coal Limited (ASX:AQC) closed the transaction. The company announced that it has issued 20,000,000 shares at AUD 0.005 per share for gross proceeds of AUD 100,000. The company issued the shares to institutional and sophisticated investors. The placement was not underwritten and no fees were payable to any underwriter. No other fees or costs were incurred in connection with the transaction. The company has received AUD 1,751,500 in total funding.