Equity Metals (EQTY) has announced a non-brokered private placement for gross proceeds of up to $6,000,000.
The company will issue a combination of non-flow-through units priced at $0.14, flow-through units priced at $0.15 and charity units priced at $0.185.
Units will consist of one common share and one-half of one purchase warrant. Warrants will entitle the holder to purchase one non-flow-through common share at a price of $0.20 for a period of 2 years.
Gross proceeds will be used for work programs on the Silver Queen, Au-Ag, exploration property and for general working capital.
All securities issued will be subject to a hold period expiring four months and one day from their date of issuance.
Completion of the offering and the payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Equity Metals Corp is engaged in the acquisition, exploration, and development of mineral and diamond properties.
Equity Metals Corporation (EQTY) opened trading at C$0.15 per share.