Snipp Interactive Inc. (TSXV:SPN) announced a non-brokered private placement of 3,000,000 units at CAD 0.10 per unit for gross proceeds of CAD 300,000 on December 9, 2013. Each unit consists of one common share and one half-share purchase warrant. Each whole warrant will entitle the holder to purchase one share at an exercise price of CAD 0.15 per share for a period of two years from the date of issue.

On the same date, the company announced that it has received CAD 240,000 in its first tranche closing. The company paid finder's fees at 8% for the first tranche in cash. The company expects to close the second tranche later this month. The shares issued as part of the first tranche and the shares to be issued pursuant to the exercise of the warrants are all subject to a hold period expiring on April 7, 2014.

On December 30, 2013, the company announced that it has amended the terms of the transaction. The company will now issue 5,000,000 units for gross proceeds of CAD 500,000. The company expects to close the second tranche and final tranche of the financing on January 6, 2014.

On January 13, 2014, the company amended the terms of the transaction. The company will now issue 8,750,000 units for gross proceeds of CAD 875,000. The second and final tranche of the transaction is expected to close later this month.

On January 24, 2014, Snipp Interactive Inc. closed the transaction. The company issued 6,350,000 units for gross proceeds CAD 635,000 in its second and final tranche close. The company paid total finders' fees of CAD 59,200 in cash. The transaction included participation from 53 placees. Shares Atul Sabharwal, Chief Executive Officer of the company suscribed for 50,000 units, Ritesh Bhavnani suscribed for 50,000 units, and professional group suscribed for 1,650,000 units. Canaccord Genuity Corp acted as finder to the company.