Identillect Technologies Corp. (TSXV:ID) announced a non-brokered private placement of 21,000,000 units at a price of CAD 0.06 per units for the gross proceeds of CAD 1,260,000 on January 19, 2017. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitling the holder to acquire an additional common share at a price of CAD 0.15 for a period of twelve months from the date of issuance. The closing of the financing is conditional on the holders of convertible debentures in the aggregate principal amount of CAD 580,000 agreeing to extend the maturity date of the debentures for one year until November 17, 2018. The company may pay a finder's fee to one or more arms' length parties who introduce the company to subscribers, in accordance with the policies of the TSX Venture Exchange. The securities issued will be subject to a four month and one day statutory hold period from the date of issuance. Closing of the transaction is subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.