Prophecy Development Corp. (TSX:PCY) announced a non-brokered private placement of 50,000 units at a price of CAD 3 per unit for gross proceeds of CAD 150,000 on January 9, 2017. Each unit consists of one common share and one half of warrant. Each warrant entitles the holder to purchase one additional share at an exercise price of CAD 4.0 for a period of five years from the date of issuance. The company expects to close on or before January 13, 2017. The securities will be subject to a hold period of four months plus one day from the date of issue. Finder’s fees may be paid in cash. No insiders of the company will be subscribing for any units in the transaction. The transaction and payment of any finder’s fees are subject to the approval of the TSX and other customary closing conditions.