Gem International Resources Inc. (TSXV:GI) announced a private placement of 8,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 400,000 on January 9, 2017. Each unit consists of one common share and one non-transferable warrant. Each warrant entitles its holder to acquire one common share at an exercise price of CAD 0.15 for a period of two years.

The transaction is subject to regulatory approval and customary resale restrictions. The maximum allowed finder's fee will be paid in cash, shares or warrants.