Prophecy Development announces $400K private placement

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By Ted Liu

Vancouver (pcJ News Briefs) – Prophecy Development Corp. (TSX: PCY; OTCPK: PRPCF; FSE: 1P2N) is undertaking a non-brokered private placement of 100,000 units at a price of $4.00 per unit for gross proceeds of $400,000.

Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to acquire an additional share at a price of $5.00 per share for a period of five years from the date of issuance.

Prophecy management and directors will subscribe up to 50,000 unit for up to $200,000.

The private placement is expected to close on or before April 15, 2017. Prophecy Development intends to proceeds to develop its mineral projects and for general working capital purposes.

Prophecy Development Corp. is engaged in developing mining and energy projects in Mongolia, Bolivia and Canada.

photo credit: Prophecy Development