Equity Metals Announces Non-Brokered Flow- Through Private Placement
Equity Metals Announces Non-Brokered Flow-
Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2023) -
Equity Metals Corporation
(TSXV:
EQTY) ("Equity" or the "Company") announces that it proposes to undertake a non-brokered private
placement of securities to raise total gross proceeds of up to $550,000 (the "Offering"). The Offering will
be comprised of 4,230,770 flow-through units (the "FT Units") to be sold at a price of $0.13 per FT Unit
for gross proceeds of $550,000. Each FT Unit will be comprised of one flow-through common share and
one-half (0.5) of one non-flow-through warrant. Each whole warrant entitles the holder thereof to purchase
one non-flow-through common share for a period of 3 years at a price of $0.20.
The proceeds received from the sale of the FT Units will be focussed on the initial delineation of two new
targets located to the northeast of, and not included in, the earlier 2022 updated Mineral Resource
estimate on the Silver Queen, gold/silver project, in British Columbia. These additional funds allow for
drilling to continue well into summer on the Cole and George Lake veins systems (Figure 1), which have
been partially tested by historical drilling.
The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with
the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued
and sold under the Offering 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States of America. The securities have not been and will not be registered
under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration is available.
Figure 1: Plan Map of targets on the Silver Queen vein system, BC
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5566/171828_96f8b1274418a93f_002full.jpg
About Silver Queen Project
The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and
development and is located adjacent to power, roads and rail with significant mining infrastructure that
was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a
Hunt Brothers company). The property contains an historic decline into the No. 3 Vein, the George Lake
Vein, camp infrastructure, and a maintained Tailings Facility.
The Silver Queen Property consists of 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. An updated NI43-101 Mineral Resource Estimate with effective date
December 1
st
, 2022 was detailed in a News Release issued on Jan 16, 2023, which can be found by
clicking
here
and the full Technical Report can be found on SEDAR and the Company's website.
More than 20 different veins have been identified on the property, forming an extensive network of zoned
Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.
About Equity Metals Corporation
Equity Metals Corporation is a Malaspina-Manex Group Company. The Company owns 100% interest,
with no underlying royalty, in the
Silver Queen project,
located along the Skeena Arch in the Omineca
Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins
related to a buried porphyry system, which has been only partially delineated. The Company also has a
controlling JV interest (57.49%) in the
Monument Diamond project
,
NWT
, strategically located in the
Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines.
The Company also has
royalty and working interests in other Canadian properties, which are being evaluated further to
determine their value to the Company.
Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person
as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the
Silver Queen project and for the preparation of the technical information in this disclosure.
On behalf of the Board of Directors
"Joseph Anthony Kizis, Jr."
Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation
For further information, visit the website at
https://www.equitymetalscorporation.com
; or contact us at
604.641.2759 or by email at
.
Neither TSX Venture Exchange nor its 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. This news release may contain forward-looking statements. Forward-looking statements
address future events and conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements. Factors that could
cause actual results to differ materially from those in forward-looking statements include the timing
and receipt of government and regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions.
Equity Metals Corporation does not
assume any obligation to update or revise its forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent required by applicable law.
This news release is not intended for distribution to United States newswire services or
dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/171828