Placer Creek Mining Company announced that it will receive up to $1,000,000 in a round of funding on February 3, 2015. The company will issue unsecured promissory notes in the transaction. The company will issue up to 22,222 shares to the accredited investors for entering into the transaction for every $100,000 invested.

The notes are not collateralized and will bear simple interest at the fixed rate of 12% per annum. The notes will mature after six months from issuance. The maturity date can be extended for an additional six months by paying 1% of the unpaid principal amount of the notes.

The minimum investment accepted from any outside investor is $100,000. The transaction is expected to close by March 31, 2015 and the company has the right to extend the transaction for an additional 30 days. The company will pay all the expenses in connection with the transaction except the legal fees of the investors.