Equitas Resources Announces $1.8-million Non-brokered Private Placement

Equitas Resources Corp. (TSXV:EQT) announced a non-brokered private placement of up to 3,157,895 company units priced $0.095 each for gross proceeds of up to $300,000. The company is also offering 15,000,000 flow-through units priced at $0.10 each for gross proceeds of up to $1.5 million.
The money will put towards the Phase II exploration program currently taking place at Equitas’ Labrador-based Garland property.
As quoted in the press release:

Each Unit will consist of one common share and one share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.20 per share for a period of 12 months from closing.
Each FT Unit will consist of one common share and one-half of a share purchase warrant. Each whole Warrant will entitle the holder to purchase one additional common share of the Com0pany at a price of $0.20 per share for a period of 12 months from closing.
All the securities will be subject to a four-month hold period from the date of closing. A finder’s fee may be payable, in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.

Click here to read the full Equitas Resources Corp. (TSXV:EQT) press release.