Engineer Gold Mines Ltd. announced non-brokered private placement of subscription receipt units at a price of CAD 0.10 per unit on January 19, 2018. Each unit is comprised of one common share and one-half of one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at CAD 0.15 per share for a period of two years following the issuance. The transaction may occur in in one or more tranches. The transaction is subject to conditions, including approval from the TSX Venture Exchange. Following the completion, the investors will hold 28% stake in the company.