Gooroo Ventures Limited (ASX:GOO) announced that it has entered into subscription agreement with returning investor Finnavate Inc. to issue up to 19,131,514 common shares at a price of AUD 0.037 per share for gross proceeds of AUD 707,866 on December 17, 2019. The transaction will take place in two tranches. The first tranche will be for 16,253,676 shares for AUD 601,386, and the second tranche will be for 2,877,810 for approximately AUD 106,479. The second tranche is subject to shareholder approval. Post closing of the transaction, the investor will hold 19.95% stake in the company.