Proceeds used to advance exploration, working capital purposes
By Devika Patel
Knoxville, Tenn., Sept. 26 - Equitas Resources Corp. announced that it settled a C$2.26 million private placement of units. The deal priced for C$2.25 million on July 7.
The company sold 15,058,333 units of one common share and one half-share warrant at C$0.15 per unit. Yield Gold Group Ltd. invested C$1.35 million by buying 9 million units.
Each whole two-year warrant is 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 purposes.
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$2,258,750
|
| Units: | 15,058,333
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Investor: | Yield Gold Group Ltd. (for C$1.35 million)
|
| Pricing date: | July 7
|
| Pricing date: | Sept. 26
|
| Stock symbol: | TSX Venture: EQT
|
| Stock price: | C$0.15 at close July 7
|
| Market capitalization: | C$4.3 million
|
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