Delrand Resources Limited (TSXV:DRN.H) announced a private placement of a minimum of a 6,600,000 subscription receipts at a price of CAD 0.80 per subscription receipt for minimum gross proceeds of CAD 5,280,000 and maximum of 10,000,000 subscription receipts at a price of CAD 0.80 per subscription receipt for maximum gross proceeds of CAD 8,000,000 on January 20, 2017. The transaction will include participation from Kuuhubb Oy. Each subscription receipt is exchanged into common share of the company.