Edgewater Exploration Ltd. (TSXV:EDW) announced a non-brokered private placement of 10,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 500,000 on December 13, 2013. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share for CAD 0.10 for a period of five years from the date of closing. The transaction will involve the participation of the company's management and the board of directors, who will purchase 6,000,000 units. The transaction is subject to TSX Venture Exchange approval.

On December 16, 2013, the company announced that it has amended the terms of the transaction. The company will now issue 15,800,000 units for gross proceeds of CAD 790,000. The securities issued will be subject to a hold period of four months from the date of closing.

On January 8, 2014, Edgewater Exploration Ltd. closed the transaction. The company paid finders' fees of CAD 15,000 and issued 100,000 finders' warrants. The securities issued are subject to a hold period expiring on May 9, 2014. The transaction included participation from 22 investors. The transaction included participation from insiders of the company, Edward Farrauto for 500,000 units, Blayne Johnson for 2,000,000 units, Quarry Capital Corp. for 2,500,000 units, Ryan King for 300,000 units, and George Salamis for 500,000 units. The transaction also included participation from 11 professional group investors for a total of 4,450,000 units. The company paid finder's fee of CAD 5,000 and issued 75,000 units to Haywood Securities Inc., issued 10,000 units to PI Financial Corp., 15,000 units to Canaccord Genuity Corp., and CAD 10,000 to Woodstone Capital. The units issued to the agents have the same terms as of the units issued in the transaction.