James Bay Resources Limited (CSE:JBR) announced a non-brokered private placement of 520,000 units at CAD 1 per unit for gross proceeds of CAD 520,000 on October 31, 2014. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at an exercise price of CAD 1.25 per share for a period of 36 months. The company paid finder's fee of CAD 31,200 and issued 31,200 finders's warrants equal to 6% of the total number of issued. Each finder's warrant is exercisable to acquire one common share at a price of CAD 1 per share for 36 months. All securities issued are subject to a hold period of four months.

On October 31, 2014, James Bay Resources Limited closed the transaction.