Foran Mining Corp. (TSXV:FOM) announced a non-brokered private placement of 6,000,000 units at CAD 0.20 per unit for gross proceeds of CAD 1,200,000 on January 17, 2014. Each unit consists of one flow-through common share and one-half of share purchase warrant.

Each warrant entitles the holder to purchase one common share of the company at CAD 0.30 per share for a period of 18 months. The transaction is expected to close by February 12, 2014. The transaction is subject to required regulatory approvals, including TSX Venture Exchange approval.

The securities issued will be subject to a four month hold period. The company will pay finder's fees.