Banks Island Gold Ltd. (TSXV:BOZ) announced a non brokered private placement of up to 10,000,000 common shares at CAD 0.30 per common share, on a post-consolidation basis for gross proceeds of up to CAD 3,000,000 on December 1, 2015. All proceeds from subscription to the financing will be held in trust until the transaction is fully subscribed for gross proceeds of CAD 3,000,000. If the transaction is not fully subscribed by the closing date any subscriptions received will be refunded to investors.

The transaction is expected to close on or before December 31, 2015. The transaction is subject to approval of TSX Venture Exchange.