2015-01-06 17:23 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 16, 2014.

Second and third tranche

Number of shares: 400,000 non-flow-through shares and 6,024,000 flow-through shares

Purchase price: Five cents per share

Warrants: 5,336,000 share purchase warrants to purchase 5,336,000 shares

Warrant exercise price: 10 cents or a two-year period

Number of placees: 12 placees

Insider: Jody Bellefleur, 100,000 non-flow-through

Total pro group involvement: 200,000 flow-through (one placee)

Finders' fees: $3,200 plus 64,000 warrants exercisable at 10 cents per share for two years, payable to PI Financial Corp.; $16,000 plus 320,000 warrants exercisable at 10 cents per share for two years, payable to Delbrook Resources Opportunities Fund