Beaufield ResourcesInc. said April 6 it has completed a third and final closing of itsprivate placement, raising C$630,000 by issuing 2,200,000 units for 5 cents perunit.

Previous tranches raised C$520,000.

Each unit consists of one common share and one common share purchasewarrant, which enables the holder to acquire one common share for 10 cents untilMarch 5, 2018.

Proceeds will be put toward exploration and development of theUrban gold propertyin Quebec. Beaufield said in February it is increasing its drilling program by 4,000meters.