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VANCOUVER, June 26, 2015 /CNW/ - Equitas Resources
Corp. (TSXv: EQT) (FSE: T6UN) ("Equitas" or the "Company") is
pleased to announce that it has arranged a non-brokered private
placement of 6,000,000 units ("Units") of the Company at a price of
$0.085 per Unit for gross proceeds of
$510,000.
Each Unit will consist of one common share and one share
purchase warrant ("Warrant"). Each Warrant will entitle the
holder to purchase one additional common share of the Company at a
price of $0.15 per share for a period
of 24 months from closing.
All the securities issuable will be subject to a four-month hold
period from the date of closing. A finder's fee may be payable in
accordance with the policies of the TSX Venture Exchange. The
private placement is subject to the approval of the TSX Venture
Exchange.
Zimtu Capital Corp., an insider of the Company, will participate
in the private placement. Zimtu intends to sell up to 4,000,000 of
its previously owned common shares of Equitas to arms-length
investors prior to closing of the private placement and will use
the proceeds from the sale to participate in this financing.
The proceeds of the private placement will be used to advance
the Company's exploration activities at the Garland Property in
Labrador, Canada, and for general
working capital.
About Equitas Resources Corp.
Equitas Resources Corp.
is a Canadian-based mineral exploration company with a focus on
nickel, copper, platinum group metals (PGM) and cobalt. The Company
is engaged in the acquisition, exploration and development of
mineral properties. Its Garland Property is 25,050 hectares and
located approximately 30kms south-east of the Voisey's Bay mine in
Labrador, Canada.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
"Kyler Hardy"
Kyler Hardy
President
Tel: 604.681.1568
info@equitasresources.com
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.
Forward-Looking Statements
Statements in this document
which are not purely historical are forward-looking statements,
including any statements regarding beliefs, plans, expectations or
intentions regarding the future. It is important to note that
actual outcomes and the Company's actual results could differ
materially from those in such forward-looking statements. Forward
looking statements in this news release include, but are not
limited to the gross proceeds will be raised; that finders fees may
be paid; that the proceeds will be used for exploration and
corporate purposes. 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 include that we are unable to
raise sufficient interest in the financing; that we may not be able
to raise sufficient funds to complete our intended exploration and
development; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties. Except
as required by law, we do not undertake to update these forward
looking statements.
SOURCE Equitas Resources Corp.