EXPLOR CLOSES THIRD AND FINAL TRANCHEExplor closes a third and final tranche of a maximum of $2 million private placement in flow-through shares News > Press Releases Explor closes a third and final tranche of a maximum of $2 million private placement in flow-through shares V.EXS | 2 days ago ROUYN-NORANDA, CANADA--(Marketwired - Dec. 9, 2016) - Explor Resources Inc. (TSX VENTURE:EXS) (OTCQX:EXSFF) (FRANKFURT:E1H1) (BERLIN:E1H1) ("Explor" or the "Corporation") announces the closing of a third tranche of a non-brokered private placement previously announced for a maximum of 23,529,412 flow-through common shares at a price of $0.085 each, for total gross proceeds of up to CDN $2,000,000 (the "Private Placement"). The third and final tranche of the Private Placement closed today consists in the sale of 1,650,000 shares for an aggregate subscription of $140,250. Following the three closings to the private placement, the Corporation has received a total amount of $1,557,240, representing an aggregate amount of 18,320,470 flow-through shares. The net proceeds from this third closing of the Private Placement will have to be incurred by the Corporation in exploration expenditures on mining properties located in the provinces of Qubec ($120,700) and Ontario ($19,550). No finder's fees are payable in connection to this last closing. The securities issued pursuant to the third closing of the Private Placement are subject to a hold period of four months and a day ending April 10, 2017. The Private Placement is subject to the final approval of the TSX Venture Exchange. Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Qubec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Qubec with approximately 33% in Ontario and 67% in Qubec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Qubec since 2006. Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following: Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au) Christian Dupont, President 888-997-4630 or 819-797-4630 Fax: 819-797-1870 info@explorresources.com www.explorresources.com Read more at https://www.stockhouse.com/news/press-releases/2016/12/09/explor-closes-a-third-and-final-tranche-of-a-maximum-of-2-million-private#dMKhfcySYKJMcDKp.99