Equitas Resources Corp. Announces Closing of Second Tranche of Non-Brokered Private Placement
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 Second Tranche of
Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED ST ATES NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES
March 3, 2017 - Equitas Resources Corp. (TSXV: EQT) (FSE: T6UN) (USA: EQTRF)
(“Equitas” or the “Company”) is pleased to announce that it has closed the second
tranche of the non-brokered private placement previously announced on January 31,
2017.
The Company has raised an additiona l $752,314 through the i ssuance of 4,179,521 units
(“Units”) at a price of $0.18 pe r Unit (the “Issue Price”). The total combined proceeds
for the first and second tranches amounts to $2,518,002 through the issuance of
13,988,900 units.
Each Unit consists of one common share and one non-transferable share purchase warrant
exercisable at $0.27 per warrant share for a pe riod of twenty-four months from the issue
date. The Company will pay finders fees in respect of this tranche amounting to $29,400
in cash.
Insiders subscribed for 416,664 units of this tranche for proceeds of $75,000. Each
insider’s subscription constitutes a “related pa rty transaction” within the meaning of
Multilateral Instrument 61-101 - Protection of Minority Secu rity Holders in Special
Transactions (“MI 61-101”) and Policy 5.9 – Protection of Minority Security Holders in
Special Transactions of the TSX Venture Exchange. The Company is relying on an
exemption available from the formal valuat ion requirements under Section 5.5(a) of MI
61-101 and an exemption available from mi nority approval requirements under Section
5.7(a) of MI 61-101 on the basi s 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.
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
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.