VANCOUVER, Jan. 6, 2015 /CNW/ - Equitas Resources
Corp. (TSXv: EQT) (FSE: T6UN) ("Equitas" or the "Company") is
pleased to announce it has closed a first tranche of the private
placement announced on December
18th 2014. This closing included an
oversubscription of the flow-through ("FT Units) portion of the
private placement. Gross proceeds raised are $441,200. The Company has issued 2,200,000 Units
and 6,624,000 FT Units. Each Unit consists of one common share and
one share purchase warrant. Each FT Unit consists of one common
share and one half of one share purchase warrant. Every whole share
purchase warrant entitles the holder to purchase one common share
at a price of $0.10 for 24 months
after the closing.
All securities hereunder are subject to a four month and a day
hold from the closing date.
Finders fees paid in conjunction with this financing were
$21,200 and 424,000 share purchase
warrants exercisable for 24 months from closing at $0.10 per full share.
The proceeds received from the FT Units will be used by the
Company to incur qualified Canadian Exploration Expenses and the
proceeds raised by the issuance of the Units will be utilized for
exploration of the Company's Garland Nickel Project, corporate
development and general and administrative purposes.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
"Kyler Hardy"
Kyler Hardy
President
Tel: 604.681.1568
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
It is important to note that actual outcomes and the Company's
actual results could differ materially from those in such
forward-looking statements. Risks and uncertainties include
economic, competitive, governmental, environmental and
technological factors that may affect the Company's operations,
markets, products and prices. Factors that could cause
actual results to differ materially may include misinterpretation
of data; that we may not be able to get equipment or labour as we
need it; that we may not be able to raise sufficient funds to
complete our intended exploration and development; that our
applications to drill may be denied; that weather, logistical
problems or hazards may prevent us from exploration; that equipment
may not work as well as expected; that analysis of data may not be
possible accurately and at depth; that results which we or others
have found in any particular location are not necessarily
indicative of larger areas of our properties; that we may not
complete environmental programs in a timely manner or at all; that
market prices for nickel may not justify commercial production
costs; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the
Company's Management Discussion & Analysis of its audited
financial statements filed with the British Columbia Securities
Commission.
SOURCE Equitas Resources Corp.