Goldsource Mines Inc. (TSXV:GXS) announced a non-brokered private placement of up to 15,000,000 units at a price of CAD 0.17 per unit for gross proceeds of up to CAD 2,500,000 on January 16, 2017. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.23 per share for a period of two years from the closing date. The transaction will involve participation from certain directors, officers and other insiders of the company. The transaction is subject to regulatory approval. The securities issued are subject to a hold period of four months and one day following the closing date of the transaction.