Dragon Legend Entertainment (Canada) Inc. announced a non-brokered private placement of 10,000,000 units at CAD 0.15 per unit for gross proceeds of CAD 1,500,000 on February 1, 2017. Of the total gross proceeds CAD 1,290,000 has been received by a wholly-owned Chinese subsidiary. Each unit comprises of one common share and one share purchase warrant. Each warrant is exercisable into one share at CAD 0.15 for a period of two years. The company issued 860,000 common shares to one finder at a deemed price of CAD 0.15 per share and CAD 12,352.50 was paid to another finder in connection with the transaction.