Toachi Mining Inc. (TSXV:TIM) announced a non-brokered private placement of convertible debentures for gross proceeds of CAD 1,500,000 on January 18, 2019. The debenture carries a coupon rate of 10.85% and may be converted into a maximum of 12,500,000 common shares of the company at a conversion price of CAD 0.12 per share at any time prior to maturity period which is, 12 months from the date of closing. No finder’s fee will be paid with respect to the transaction. The securities issued in the transaction are subject to a hold period of four months and one day from the date of closing. The transaction will involve participation from a combination of insiders and high net worth investors. Over 50% of the transaction will be subscribed by insiders of the company, including members of the board of directors. The company has received conditional approval from the TSX Venture Exchange which remains nevertheless subject to its final approval. The transaction pursuant to exemptions from the prospectus requirements of applicable securities legislation and thus be solely addressed to accredited investors, to subscribers which are not individuals and each subscribing for at least CAD 150,000 or other prospectus exemptions in each of the provinces of Canada and to eligible purchasers residing in jurisdictions other than Canada as agreed to by company provided that no prospectus filing or comparable obligation arises and company does not thereafter become subject to continuous disclosure obligations in such jurisdictions.