Ellipsiz Communications Ltd. (TSXV:ECT) announced that it has entered into an agreement of non-brokered working capital unit private placement of 2,400,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 120,000 on January 10, 2020. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at CAD 0.05 per share until 2 years from the closing of the transaction. All securities issued in the transaction are subject to hold period of four months expiring on May 11, 2020. One insider of the company has subscribed for 1,000,000 units of the offering.