VANCOUVER, Sept. 18, 2015 /CNW/ - Equitas Resources
Corp. (TSXv: EQT) (FSE: T6U1) ("Equitas" or the "Company") is
pleased to announce it has closed a second and final tranche of the
private placement that was previously announced on August 18, 2015. This closing included gross
proceeds raised of $967,660.
The Company has issued 9,676,600 Flow-Through Units (FT
Units) at $0.10 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 $0.20 for 12 months after the closing.
Combining both tranches, the Company issued a total of
17,033,200 FT Units and a total of 3,160,000 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 finders fees paid in conjunction with both tranches
totalled $115,574 cash and the
issuance of 1,156,976 share purchase warrants exercisable
for 12 months from closing at $0.20
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.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
"Kyler Hardy"
Kyler Hardy
President
Tel: 604.681.1568
info@equitasresources.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
It is important to note that actual outcomes and the Company's
actual results could differ materially from those in such
forward-looking statements. Risks and uncertainties include
economic, competitive, governmental, environmental and
technological factors that may affect the Company's operations,
markets, products and prices. Factors that could cause
actual results to differ materially may include misinterpretation
of data; that we may not be able to get equipment or labour as we
need it; that we may not be able to raise sufficient funds to
complete our intended exploration and development; that our
applications to drill may be denied; that weather, logistical
problems or hazards may prevent us from exploration; that equipment
may not work as well as expected; that analysis of data may not be
possible accurately and at depth; that results which we or others
have found in any particular location are not necessarily
indicative of larger areas of our properties; that we may not
complete environmental programs in a timely manner or at all; that
market prices for nickel may not justify commercial production
costs; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the
Company's Management Discussion & Analysis of its audited
financial statements filed with the British Columbia Securities
Commission.
SOURCE Equitas Resources Corp.