Laurentian Goldfields, Ltd. (TSXV:LGF) announced a private placement on best efforts basis of 40,000,000 units at CAD 0.25 per unit for gross proceeds of CAD 10,000,000 on January 24, 2014. Each unit shall be comprised of one common share and one-half of one common share purchase warrant. Each whole warrant shall entitle its holder to subscribe for one common share during a period of 30 months following the date of its issuance, at a price of CAD 0.50. Macquarie Capital Markets Canada Ltd. will act as placement agent and financial advisor to the company. Canaccord Genuity Corp., and Axemen Resource Capital Ltd., will act as placement agents to the company. The agents will have the option to sell up to an additional 10,000,000 units for additional gross proceeds of up to CAD 2,500,000, exercisable in whole or in part at any time up to 48 hours before the closing date of the transaction. In connection with the transaction, the company will pay the agents a cash commission equal to 6% of the gross proceeds of the transaction and grant the agents broker warrants totaling 6% of the number of units sold pursuant to the transaction. The transaction is expected to close on or about February 18, 2014, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX venture exchange. The securities issued are subject to a hold period in Canada of four months and one day from the date of issuance.

On February 6, 2014, the company announced that it has amended the terms of the transaction. The company will now issue 60,000,000 units for gross proceeds of CAD 15,000,000. The agents will have the option to sell up to an additional 15000,000 units for additional gross proceeds of up to CAD 3,750,000, exercisable in whole or in part at any time up to 48 hours before the closing date of the transaction.