March 22 (Reuters) - Velocity Minerals Ltd VLC.V :
* VELOCITY ANNOUNCES $3.5M NON-BROKERED PRIVATE PLACEMENT
* VELOCITY MINERALS - NON-BROKERED PRIVATE PLACEMENT OF UP TO 17.5 MILLION UNITS PRICED AT $0.20 PER UNIT
* VELOCITY MINERALS LTD - PROCEEDS OF FINANCING ARE INTENDED TO FUND ONGOING WORK AT COMPANY'S BALKAN GOLD PROJECT