St Elias Mines Ltd. (TSXV:SLI) announced a non-brokered private placement of 10,000,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on September 11, 2013. Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of CAD 0.10 for a period of 24 months from closing. The company will pay finder's fees of 10% of the gross proceeds raised, payable in cash or units or a combination.

On November 11, 2013, the company it is attempting to close the transaction by the end of November 2013.