Royal Road Minerals Limited (TSXV:RYR) announced a brokered private placement on a best efforts basis of up to 30,000,000 units at CAD 0.10 per unit for gross proceeds of CAD 3,000,000 on January 19, 2017. Each unit will comprise of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one ordinary share at CAD 0.20 per share for a period of 24 months. The transaction is expected to close on or about February 17, 2017. Closing of the transaction is subject to the approval of the TSX Venture Exchange.