Posera Ltd. (TSX:PAY) announced a non-brokered private placement of 18,900,000 common shares at CAD 0.12 per share for gross proceeds of CAD 2,268,000 on January 9, 2017. The securities issued are subject to a hold period of four months from the date of issuance. The company may pay finder's fees equal to 6% of the proceeds raised in the transaction. The transaction may include participation from insiders of the company. The transaction is subject to TSX Venture Exchange approval. The transaction is expected to close on or about January 20, 2017.