Source: Equity Metals Corporation.
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  • Equity Metals Corporation (EQTY) has announced a non-brokered private placement to raise gross proceeds of up to $1,700,000
  • The offering consists of 13,928,572 unit offering made up of three parts
  • The gross proceeds received from the sale of the FT units and CFT units will be used for work programs on the company’s Silver Queen exploration property in BC
  • Equity Metals Corporation is a Manex Resource Group Company which provides exploration, administration, and corporate development services for Equity Metals’ two major mineral properties
  • Equity Metals Corporation was up 4.762 per cent, trading at $0.11 at 10:54 AM ET

Equity Metals Corporation (EQTY) has announced a non-brokered private placement to raise gross proceeds of up to $1,700,000.

The offering consists of 13,928,572 unit offering made up of three parts.

The first is the issuance of 5,000,000 non-flow-through units to be sold at a price of $0.10 per NFT unit for gross proceeds of $500,000.

The second is the issuance of 4,166,667 flow-through units to be sold at a price of $0.12 per FT unit for gross proceeds of $500,000.

The third is the issuance of 4,761,905 charitable flow-through units to be sold at a price of $0.147 per CFT Unit for gross proceeds of $700,000.

Each NFT unit will consist of one non-flow-through common share and one transferable share purchase warrant.

Each FT unit and CFT unit will consist of one flow-through common share and one warrant. Each warrant will entitle the holder to purchase one non-flow-through common share for a period of three years at a price of $0.15.

The gross proceeds received from the sale of the FT units and CFT units will be used for work programs on the company’s Silver Queen, Au-Ag, exploration property in British Columbia.

On the other hand, the net proceeds received from the sale of the NFT units will be used for general working capital.

The Silver Queen project is a premier gold-silver property with 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area.

Equity Metals Corporation is a Manex Resource Group Company, a group which provides exploration, administration, and corporate development services for Equity Metals’ two major mineral properties.

Equity Metals Corporation was up 4.762 per cent, trading at $0.11 at 10:54 AM ET.


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