Non-brokered offering finances exploration and general working capital
By Devika Patel
Knoxville, Tenn., Aug. 18 – Equitas Resources Corp. said it will conduct a C$1.8 million non-brokered private placement of units.
The company will sell 15 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 per unit and 3,157,895 units of one common share and one warrant at C$0.095 per unit.
Each whole warrant is exercisable at C$0.20 for one year. The strike price represents a 53.85% premium to the Aug. 17 closing share price of C$0.13.
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.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1.8 million
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
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| Pricing date: | Aug. 18
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| Stock symbol: | TSX Venture: EQT
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| Stock price: | C$0.13 at close Aug. 17
|
| Market capitalization: | C$4.03 million
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| Flow-through units
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| Amount: | C$1.5 million
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| Units: | 15 million
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| Price: | C$0.10
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| Warrants: | One half-share warrant per unit
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| Units
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| Amount: | C$300,000
|
| Units: | 3,157,895
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| Price: | C$0.095
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| Warrants: | One warrant per unit
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