Ellipsiz Communications Ltd. (TSXV:ECT) announced a non brokered private placement of 6,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 300,000 on October 27, 2017. Each unit consists of one common share and one share purchase warrant. Each warrant authorizes the holder to purchase one share at a price of CAD 0.05 per share for two years from the date of closing. All the securities issued in the transaction are subject to hold period of four months expiring on February 28, 2018.