Toachi Mining Inc. (TSXV:TIM) announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.15 per unit for the gross proceeds of CAD 3,000,000 on March 28, 2018. The transaction will include participation from insiders of the company, including board of directors of the company. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.17 per share for a period of 24 months. All securities to be issued pursuant to the transaction will be subject to a four month hold period from the closing date. The company will pay finder's fee of 6% of the gross proceeds. The transaction is subject to approval from regulatory authorities, including TSX Venture Exchange. The transaction is expected to close by April 10, 2018.