Rapier Gold Inc. (TSX-V:RPR) is pleased to announce that, subject to final regulatory approval, it has increased and closed its private placement announced on April 13, 2017 through the issuance of 13,780,000 units at a price of $0.10 per Unit, for gross proceeds of $1,378,000. The Units are subject to a four-month hold period expiring on August 28, 2017. A finder’s fee in the amount of $15,000 was paid in connection with the financing.

Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each Warrant will entitle the holder to purchase one common share at an exercise price of $0.13 for a period of two years.

David Lotan, interim President and CEO of the Company commented, “We are very pleased with the support that we received in completing this equity financing. The proceeds from this financing will allow us to focus on enhancing the value of the Company through continuing exploration activities on our Pen Gold Property, as well as to examine and evaluate all other alternatives in order to best maximize value for our shareholders.”

Granting of Options

The company also announces that it has granted 725,000 stock options to officers, employees and consultants at an exercise price of $0.10 for a period of three years.