Goldbank Mining Corporation (TSXV:GLB) announced a private placement of 6,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 300,000 on October 28, 2016. The company will issue portion of the financing on flow-through basis. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.06 per share for a period of 48 months from the date of closing. The transaction is subject to TSX Venture Exchange approval.