Gespeg Copper Resources Inc. (TSXV:GCR) announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,000,000 on July 25, 2016. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one common share of the company at a price of CAD 0.10 per share for a period of 24 months from the closing. The transaction is subject to all necessary corporate and regulatory approvals including approval from TSX Venture Exchange. The securities issued are subject to four months and one day hold period. The company may pay finder’s fee in connection with the transaction within the amount permitted by the policies of the TSX Venture Exchange.