Cyprium Mining Corporation (TSXV:CUG) announced a private placement of 8,000,000 units at a price of CAD 0.065 per unit for the gross proceeds of CAD 520,000 on March 23, 2016. Each warrant will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.10 for a period of two years from the date of closing.

The transaction will include investment from a director of the company. The company may pay cash finder's and agent's fee of up to 8% of the gross proceeds and issue finder's warrant equivalent to 8% of the number of units. Each finder's warrant will entitle the holder to purchase one unit at a price of CAD 0.065 per unit for a period of eighteen months from the date of closing.

The transaction is subject to approval from TSX Venture Exchange. The securities being issued are subject to a hold period of four months and one day. The transaction is expected to close on or about April 1, 2016.