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Source: Equity Metals Corporation
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  • Equity Metals (EQTY) is planning to extend the closing date of its previously announced private placement
  • The company has closed a first tranche of the $6,000,000 non-brokered private placement by issuing 2,800,000 non-flow-through units and 7,903,667 flow-through units
  • The gross proceeds from the sale of the FT units will be used for work programs on the Silver Queen property in BC
  • Equity Metals Corp is engaged in the exploration and development of mineral and diamond properties
  • Equity Metals Corporation (EQTY) is down 3.23 per cent on the day, trading at C$0.15 per share at 2:15 pm EST

Equity Metals (EQTY) is planning to extend the closing date of its previously announced private placement by 30 days.

The company has closed a first tranche of the $6,000,000 non-brokered private placement by issuing 2,800,000 non-flow-through units at a price of $0.14 per NFT unit for gross proceeds of $392,000 and by issuing 7,903,667 flow-through units at a price of $0.15 per FT unit for gross proceeds of $1,185,549.95.

Each NFT and FT unit will include one non-flow-through common share and one-half of one purchase warrant. Each whole purchase warrant will entitle the holder to purchase one non-flow-through common share for a period of 2 years at a price of $0.20.

The gross proceeds from the sale of the FT units will be used for work programs on the Silver Queen property in BC. Proceeds from the sale of the NFT Units will be used for general working capital.

Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Equity Metals Corporation provides exploration, administration, and corporate development services for Equity Metals’ two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT.

Equity Metals Corporation (EQTY) is down 3.23 per cent on the day, trading at C$0.15 per share at 2:15 pm EST.

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