Equitas Resources Over-Subscribes Financing and Raises $1.5M

Equitas Resources (TSXV:EQT; FSE:T6UN) announced that it has closed the second and final tranche of the private placement that was announced on March 4, 2016. This closing included gross proceeds raised of $1,100,000.
Combining both tranches, the Company issued a total of 30,000,000 Units for combined gross proceeds of $1,500,000. Of the 30,000,000 Units purchased, over 10,400,000 were purchased by Insiders of the Company.
The proceeds received from the Units will be used by the Company for corporate development, general and administrative costs and towards the acquisition of a 100% interest in Alta Floresta Gold Ltd.
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