St Elias Mines Ltd. (TSXV:SLI) announced a non-brokered private placement of 100,000,000 units at CAD 0.10 per unit for gross proceeds of CAD 10,000,000 on October 22, 2012. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one common share for a period of 24 months from closing at a price of CAD 0.125 per share. The securities will be subject to hold-period of four months and one day from closing. The company will pay finders' fees of up to 10% of the gross proceeds raised. The finders' fees will be payable in cash or units or a combination of both.

On January 30, 2013, St Elias Mines Ltd. cancelled the transaction.