IQnovate Ltd. (NSX:IQN) announced a private placement of 4,456,533 common shares at AUD 0.38 per share for gross proceeds of AUD 1,693,482.54 on September 19, 2018. The transaction included participation from 40 investors including Hercules Family Investments Pty Ltd for 823,684 shares, Harry Simeonidis and Penny Simeonidis for 650,000 shares and Wen Dong FANG and Yu Lian WANG for 263,158 shares.