Proceeds used to advance exploration, for general working capital
By Devika Patel
Knoxville, Tenn., July 7 - Equitas Resources Corp. announced it plans a C$2.25 million private placement of units. The company has also negotiated the initial C$1.35 million tranche with a single investor.
The company will sell 15 million units of one common share and one half-share warrant at C$0.15 per unit. It will sell 9 million units in the first tranche.
Each whole two-year warrant will be exercisable at C$0.20. The strike price represents a 37.93% premium to the closing share price of C$0.145 on July 6.
Proceeds will be used to advance the company's exploration plans and for general working capital.
The natural resource exploration and development company is based in Vancouver, B.C.
| Issuer: | Equitas Resources Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.25 million
|
| Units: | 15 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | July 7
|
| Stock symbol: | TSX Venture: EQT
|
| Stock price: | C$0.15 at close July 7
|
| Market capitalization: | C$5.38 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
