Fantasy Network Ltd (TASE:FNTS) announced a private placement of 8,000,000 shares at a price of ILS 0.50 per share for gross proceeds of ILS 4,000,000 on August 31, 2016. The company will also issue 8,000,000 warrants, exercisable into share at a price of ILS 0.65 per share, and valid for 20 months from date of issue. The transaction has been approved by the board of directors of the company.