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Equitas Resources Corp. Closes First Tranche of Non-Brokered Private Placement

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Equitas Resources Corp. Closes First Tranche of Non-Brokered Private Placement

 

 

 

 

 

Equitas Resources Corp. (TSX-V:EQT) (FSE:T6UN) is pleased to announce it has closed a first tranche of the private placement that was previously announced on September 9, 2015. The Company has issued 8,411,393 Units at $0.125 per Unit for gross proceeds of $1,051,424.

 

 

Each Unit consists of one common share and one share purchase warrant. Every share purchase warrant entitles the holder to purchase one common share at a price of $0.25 for 12 months after the closing.

 

 

All securities hereunder are subject to a four month and a day hold from the closing date.

 

 

Finders fees paid in conjunction with this closing were $5,500.00 cash and the issuance of 44,000 share purchase warrants exercisable for 12 months from closing at $0.25 per share.

 

 

The proceeds received from the Units will be used by the Company for ongoing exploration of the Company’s Garland Nickel Project, corporate development and general and administrative purposes.

 

Posted October 6, 2015

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