Equitas Resources Corp. Announces Closing of Non-Brokered Private Placement and Issues Options
1500 – 409 Granville Street ‐ Vancouver, B.C. V6C 1T2 TSX‐V: EQT
T: +1 (604) 440‐8474 FSE: T6UN
Equitas Resources Corp. Announces Closing of
Non-Brokered Private Placement and Issues Options
NOT FOR DISTRIBUTION TO UNITED ST ATES NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES
April 5, 2017 - Equitas Resources Corp. (TSXV: EQT) (FSE: T6UN) (USA: EQTRF)
(“Equitas” or the “Company”) is pleased to announce that it has cl osed the non-brokered
private placement previously announced on February 22, 2017.
The Company has raised $387,891 through the i ssuance of 1,616,214 units (“Units”) at a
price of $0.24 per Unit (the “Issue Price”).
Each Unit consists of one common share and one non-transferable share purchase warrant
exercisable at $0.33 per warrant share for a pe riod of twenty-four months from the issue
date. No finder’s fees are payable in respect of this financing.
Insiders subscribed for 312,501 units of for proceeds of $75,000. Each insider’s
subscription constitutes a “related party trans action” within the meaning of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions
(“MI 61-101”) and Policy 5.9 – Protection of Minority Secu rity Holders in Special
Transactions of the TSX Venture Exchange. The Company is relying on an exemption
available from the formal valuation requi rements under Section 5.5( a) of MI 61-101 and
an exemption available from minority appr oval requirements under Section 5.7(a) of MI
61-101 on the basis that the fair market value of the transactions with the insiders do not
exceed 25% of the Company’s market capitalization.
1500 – 409 Granville Street ‐ Vancouver, B.C. V6C 1T2 TSX‐V: EQT
T: +1 (604) 440‐8474 FSE: T6UN
Equitas intends to use the net proceeds fo r a drilling program on the Company's mineral
properties in Brazil, and for general working capital purposes.
All the securities are subject to a four-month hold period from the date of closing.
The Company has raised a total of $2,925,893 in financings since January this year.
The Company also announces that it has granted 2,380,000 stock options to directors,
consultants, and officers of the Company. The stock options are exercisable for a term of
five years at an exercise price of $0.28 per common share under the terms of the
Company’s Stock Option Plan.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
“Alan Carter”
Alan Carter
President
Tel: 604.676.5660
Neither TSX Venture Exchange nor it 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
1500 – 409 Granville Street ‐ Vancouver, B.C. V6C 1T2 TSX‐V: EQT
T: +1 (604) 440‐8474 FSE: T6UN
Statements in this document which are not purel y historical are forward-looking statements,
including any statements regarding beliefs, plans, expectations or intentions regarding the future.
It is important to note that actual outcom es and the Company’s actual results could differ
materially from those in such forward-looking statements. Forward looking statements in this
news release include the proposal to raise funds and the intended use of proceeds, assuming that
the pricate placement is completed. Risks and uncertainties include the state of the markets and
the market for the Company’s securities. Fact ors that could cause actual results to differ
materially include that Equitas is unable to comp lete all or a portion of the financing. Except as
required by law, we do not undertake to update these forward looking statements.