Non-brokered offering finances exploration and general working capital
By Devika Patel
Knoxville, Tenn., Sept. 9 – Equitas Resources Corp. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 16 million units of one common share and one warrant at C$0.125 per unit.
Each warrant is exercisable at C$0.25 for one year. The strike price represents a 47.06% premium to the Sept. 8 closing share price of C$0.17.
Proceeds will be used for exploration and general working capital.
The natural resource exploration and development company is based in Vancouver, B.C.
| Issuer: | Equitas Resources Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2 million
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| Units: | 16 million
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| Price: | C$0.125
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.25
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| Agent: | Non-brokered
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| Pricing date: | Sept. 9
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| Stock symbol: | TSX Venture: EQT
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| Stock price: | C$0.17 at close Sept. 8
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| Market capitalization: | C$6.31 million
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