Explor Resources Inc. (TSXV:EXS) announced a non-brokered private placement maximum of up to 4,285,714 units of common shares and/or flow-through shares at CAD 0.07 per unit for gross proceeds of up to CAD 300,000 on February 14, 2018. Each unit consists of one common share and one half of one common share purchase warrant. Each flow-through unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of two years from closing. The transaction is subject to the final approval of the TSX Venture Exchange. On the same date, the company announced that it has received CAD 120,000 in its first tranche of the transaction. The company has issued 171,429 units and 1,542,857 flow-through units. There is no finder’s fee paid pursuant to the first tranche closing. The securities issued pursuant to the first tranche of the transaction are subject to a hold period of four months and a day ending June 15, 2018.