Edgewater Exploration Ltd. (TSXV:EDW) announced a non-brokered private placement of 20,000,000 units at a price of CAD 0.025 per unit for gross proceeds of CAD 500,000 on August 24, 2016. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of CAD 0.05 per share, on a pre-consolidation basis, for a period of five years from closing. The transaction will include participation from management and board of directors of the company for 11,200,000 units. The securities being issued will be subject to a hold period of four months plus one day from closing. The transaction is subject to TSX Venture Exchange approval.