Kivalliq Energy Corp. (TSXV:KIV) announced a non-brokered private placement of 25,925,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 2,074,000 on January 16, 2017. The transaction included participation from 20 placees, including Sandstorm Gold Ltd. (TSX:SSL) for 16,250,000 units and professional group for 1,393,750 units.

Each unit consists of one common share and one-half of one transferrable, common share purchase warrant. Each whole warrant will be exercisable into a common share of the company for a period of 60 months from the closing date at an exercise price of CAD 0.15 per warrant share. The securities issued in connection with the transaction are subject to a four month hold period expiring on May 17, 2017 as prescribed by the Exchange and applicable securities laws.

Finders' fees of CAD 124,440 cash and 1,555,550 warrants will be paid in connection with the transaction, including CAD 107,160 cash; 1,339,500 warrants to Canaccord Genuity Corp, CAD 15,840 cash and 198,000 warrants to Vandamme Invest, CAD 1,440 cash and 18,000 warrants to Haywood Securities Inc. Finders warrants have same terms as the warrants issued in the transaction.