VANCOUVER, Aug. 19, 2014 /CNW/ - Equitas Resources
Corp. ("Equitas" or the "Company") (TSX-V: EQT Frankfurt: T6U1)
announces that it has mailed out the Information Circular with
respect to its special meeting of shareholders scheduled for
September 15, 2014 (the "Meeting").
As part of that Meeting, shareholders of the Company will be asked
to approve a special resolution (the "Consolidation Resolution")
approving the consolidation of the issued and outstanding common
shares of the Company on a one (1) for three (3) basis (the
"Consolidation"). The 51,037,415 common shares of the Company
outstanding would reduce to approximately 17,012,472 common shares,
once approved by shareholders and the TSX Venture Exchange
("TSX-V").
In the event the Consolidation Resolution is approved, the
Company's outstanding options will be re-priced to an exercise
price per share equal to the greater of (a) $0.10 per share, and (b) the Discounted Market
Price (as defined in the policies of the TSX-V) on the date that is
ten calendar days after the completion of the Consolidation.
The details of the share consolidation are included in the
information circular and shareholders will vote in the Company's
upcoming Meeting.
About Equitas Resources
Equitas Resources Corp. is a
Canadian mineral resource company trading on the TSX Venture under
the symbol "EQT" and on the Frankfurt Stock Exchange as "T6U1".
Equitas has a portfolio of base and precious metal projects in
Canada. With an experienced,
dedicated management team, strong technical expertise, strategic
partnerships and extensive network Equitas is focused on creating
value for shareholders through identifying and developing early
stage mineral deposits.
We encourage you to learn more about our team, the business
model, key properties and our strategic partners by visiting our
website:www.equitasresources.com.
On Behalf of the Board of Directors,
"David Hodge"
David Hodge
President, Chief Executive Officer
And Director
This press release may contain forward-looking statements,
including but not limited to comments regarding predictions and
projections. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements.
Neither the TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Equitas Resources Corp.