Equitas Resources Closes $967,660 Second Tranche of Financing

Equitas Resources Corp. (CVE:EQT) has closed a second and final tranche of the private placement that was previously announced on Aug. 18, 2015. This closing included gross proceeds raised of $967,660.
As quoted in the press release:

The company has issued 9,676,600 flow-through units at 10 cents per FT unit for proceeds of $967,660. Each FT unit consists of one common share and one-half of one share purchase warrant. Every whole share purchase warrant entitles the holder to purchase one common share at a price of 20 cents for 12 months after the closing.
Combining both tranches, the company issued a total of 17,033,200 FT units and a total of 3.16 million units for combined gross proceeds of $2,003,520.
All securities issued are subject to a four-month-and-a-day hold from the closing date.
Total finder’s fees paid in conjunction with both tranches totalled $115,574 in cash and the issuance of 1,156,976 share purchase warrants exercisable for 12 months from closing at 20 cents per share.
In addition, during the past month the company has received over $197,000 through the exercise of warrants.
The proceeds received from the FT units will be used by the company to incur qualified Canadian exploration expenses, and the proceeds raised by the issuance of the units will be utilized for exploration of the company’s Garland nickel project, corporate development, and general and administrative purposes.