Equitas Resources Closes First Tranche of Non-Brokered Private Placement

Equitas Resources (TSXV:EQT; FSE:T6UN) announced it has closed a first tranche of the private placement that was previously announced on March 7, 2016. The Company has issued 8,000,000 Units at $0.05 per Unit for proceeds of $400,000.Of the 8,000,000 Units purchased, 4,200,000 were purchased by insiders of the Company.
The proceeds received from the Units will be used by the Company for exploration, asset acquisition, corporate development and general and administrative purposes.
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