Waterfront Capital Corp. (TSXV:WFG) announced a non-brokered private placement of 5,000,000 non flow-through units at CAD 0.10 per unit for gross proceeds of CAD 500,000 on October 2, 2013. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.20 per share for a period of two years from the date of issue. The company may pay finders' fees in the amount of 10% of the proceeds received by the investors introduced by the finders.

On November 20, 2013, the company amended the terms of the transaction. The company will now receive CAD 800,000 in total funding from the transaction. The company will issue 2,000,000 units at CAD 0.10 per unit for proceeds of CAD 200,000 and issue one convertible debenture up to proceeds of CAD 600,000. The debenture will carry an interest of 12% per annum and will be convertible into common shares and preferred shares of at CAD 0.25 per share. The transaction is subject to shareholder and regulatory approvals to create and authorize a class of preferred shares to facilitate this proposed debenture issue.

On January 20, 2014, Waterfront Capital Corp. closed the transaction. The company has issued 250,000 units and one convertible debenture for gross proceeds of CAD 625,000. The securities were issued to Resource Income Partners Limited Partnership and are subject to a hold period expiring on May 18, 2014. The debenture will mature in five years from the date of issuance.