VANCOUVER, July 16, 2015 /CNW/ - Equitas Resources Corp.
(TSXv: EQT) (FSE: T6UN) ("Equitas" or the "Company") is pleased to
announce it has closed a non-brokered private placement previously
announced on June 26, 2015. The
Company has issued 6,134,918 Units at $0.085 per unit for gross proceeds of
$521,468. Each Unit consists of one
common share and one share purchase warrant exercisable at
$0.15 per warrant share for 24 months
from closing.
The Company paid cash finder's fees of $1,760 and issued 20,705 broker warrants
exercisable at $0.15 per share for a
period of two years from this closing. All securities hereunder are
subject to a four month and a day hold from the closing date.
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
Equitas Resources is a Canada-based company engaged in the mineral
exploration sector. The Company focuses on nickel, copper, platinum
group metals (PGM) and cobalt projects. Its 100% owned Garland
Project is located less than 30 kms south-east of the
Voisey's Bay nickel mine in Labrador which is one of the most
substantial mineral discoveries in Canadian history.
Equitas deployed the industry leading VTEM airborne survey on
the large & highly under-explored property which
identified in nine ni-cu porphyry buried targets. EQT is
planning for a drill program this summer.
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.
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.