Equitas Resources Closes $1.05-Million First Tranche of Financing

Equitas Resources (TSXV:EQT; FSE:T6UN) announced it has closed a first tranche of the private placement that was previously announced on Sept. 9, 2015. The company has issued 8,411,393 units at 12.5 cents per unit for gross proceeds of $1,051,424.
As quoted in the press release:

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 25 cents 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 cash and the issuance of 44,000 share purchase warrants exercisable for 12 months from closing at 25 cents per share.
The proceeds received from the units will be used by the company for continuing exploration of the company’s Garland nickel project, corporate development, and general and administrative purposes.

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