Itoco Mining Corporation (OTCPK:ITMC) announced a private placement of 1,000,000 units at CAD 0.10 per unit for gross proceeds of CAD 100,000 on July 25, 2017. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.30 per share for a period of two years. Post the transaction, the company will issue additional securities on a best efforts basis in its second placement.