09:59 AM EST - First Point Minerals Corp. : announced that it has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of $895,540. The private placement is subject to final acceptance by the Toronto Stock Exchange. The Company also announced that in light of significant interest, the Company proposes to increase the private placement to $1,500,000, subject to receiving acceptance of the proposed increase from the Toronto Stock Exchange and all other required regulatory approvals. In closing the first tranche, the Company has issued 5,267,881 Units priced at $0.17 per Unit. Each Unit consists of one common share of the Company and one-half share purchase warrant, where each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.25 per share on or before November 18, 2016. First Point Minerals Corp.
shares T.FPX are trading unchanged at $0.14.
