Esrey Resources Ltd. (TSXV:ESR) announced a private placement of 20,000,000 units at a price of CAD 0.20 per unit for gross proceeds of CAD 4,000,000 on March 15, 2018. Each unit will be comprised of one common share and one share purchase warrant. Each warrant gives the holder the right to acquire a further common share of the company at a price of CAD 0.40 for a term of 5 years. The expiry of the warrants may however be accelerated at the election of the company in circumstances where, at any time following 4 months from the closing of the transaction, the closing price of the company’s shares on the TSX Venture Exchange is equal to or greater than CAD 0.75 for 20 consecutive trading days. In such case, the company may give notice to the holders of the warrants that the warrants will expire 30 days following such notice. The securities issued in a transaction are subject to a 4 month hold period, expiring July 30, 2018. The company may pay finder’s fees in connection with the transaction in accordance with the policies of the Exchange.