Equitas Resources Closes $309,500 Final Tranche of Financing

Equitas Resources (TSXV:EQT; FSE:T6UN) announced it has closed the second and final tranche of the private placement that was announced on Sept. 10, 2015. This closing included gross proceeds raised of $309,500.
As quoted in the press release:

The company has issued 2,476,000 units at 12.5 cents per unit. 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.
Combining both tranches, the company issued a total of 10,887,393 units for combined gross proceeds of $1,360,924. In addition, since Sept. 1, 2015, the company has received over $550,000 through the exercise of share purchase warrants and stock options.
All securities hereunder are subject to a four-month-and-one- day hold from the closing date. Finders’ fees paid in conjunction with this closing were $10,625 cash and the issuance of 64,000 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 and drilling of the company’s Garland nickel project, corporate development, and general and administrative purposes.

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