MBMI Resources Inc. (OTCPK:MBRT.F) announced a non-brokered private placement of up to 5,348,149 units at CAD 0.135 per unit for gross proceeds of CAD 722,000 on February 6, 2017. Each unit will comprise of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at CAD 0.18 per share for a period of one year. The transaction may be closed in one or more tranches and is subject to requisite approval from the TSX Venture Exchange. The securities to be issued are subject to a hold period of four months and a day from the closing date. The company currently has 36,264,966 common shares issued and outstanding and after giving effect to the share consolidation, the company will have approximately 12,088,322 issued and outstanding common shares.