Sofame Technologies Inc. (TSXV:SDW) announced a non-brokered private placement of 13,750,000 units at CAD 0.02 per unit for gross proceeds of CAD 275,000 on May 16, 2013. Each unit consists of one common share and one half of one share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of CAD 0.05 per share for a period of 12 months from closing. The company will receive funds in tranches of CAD 5,000. The securities to be issued are subject to a hold period of four months. The transaction has been approved by the board of directors.

On May 30, 2013, the company issued 10,250,000 units to accredited investor for gross proceeds of CAD 205,000 in its first tranche.