Pistol Bay Mining (TSX.V-PST) has closed the first tranche of its financing previously announced October 25, 2016 and amended November 25, 2016.
2,710,000 non flow-through units at $0.07 for $189,700. One share and one full warrant priced at $0.12 for 18 months.
135,000 flow-through units at $0.09 for gross proceeds of $12,150. One share and one half warrant priced at $0.15 for 18 months.
The proceeds of the private placement will be used for general working capital and exploration on the company’s mineral properties.