Cipher Resources Inc. (TSXV:CIFR) announced a non-brokered private placement of up to 35,000,000 units of the company at a price of CAD 0.10 per unit for total gross proceeds of CAD 3,500,000 on January 29, 2018. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of CAD 0.15 per warrant share, for a period of 36 months following the closing date of the transaction. The transaction is subject to approval from TSX Venture Exchange. Any shares issued under the transaction will be subject to a four month hold period. The company may finder’s fee.