Pasinex Resources Limited (DB:PNX) announced a non-brokered private placement of 3,571,429 units at CAD 0.07 per unit for gross proceeds of CAD 250,000 on January 24, 2014. Each unit consists of one common share and one-half share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.12 per share for a period of three years. The company may pay finder's fees or commissions. The securities issued will be subject to a hold period of four months.

On April 7, 2014, the company announced that it has closed the first tranche of the transaction. The company issued 5,947,142 units for gross proceeds of CAD 416,300. The company paid CAD 18,304 cash, 27,200 warrants, and 60,000 common shares as finder's fees. The tranche was over-subscribed.