Equity Metals Closes Oversubscribed Non- Brokered Flow-Through Private Placement
Equity Metals Closes Oversubscribed Non-
Brokered Flow-Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) -
Equity Metals Corporation
(TSXV: EQTY) (the "Company" or "Equity Metals") reported that it has closed its previously announced
Premium/Charity flow-through private placement (the "Offering") by issuing a total of 9,160,657
Charity/Premium flow-through units ("FT Units") at $0.27 per FT Unit for proceeds of $2,473,377.39. This
Offering amount includes an oversubscription of 1,160,657 FT Units for proceeds of $313,377.39.
Each FT Unit consists of one flow-through common share and one-half of one share purchase warrant,
with each whole warrant entitling the holder thereof to purchase one non-flow-through common share for
a period of 3 years at a price of $0.27.
The Company paid finders' fees totalling $43,210.80 and issued an aggregate 240,060 non-transferable
finder warrants in connection with the Offering. Each finder warrant is exercisable to purchase one
common share for a period of 3 years at a price of $0.27. All securities issued and sold under the
Offering are subject to a hold period expiring on April 20, 2025. The Offering and the payment of finders'
fees is subject to TSX Venture Exchange acceptance.
The proceeds received from the sale of the FT Units will be utilized for the continued exploration and
resource expansion at the Silver Queen Au-Ag-Zn vein project and for initial surface work and drilling on
the newly acquired Au-Ag Arlington property.
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.
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 January 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. As well, the Company
has an option to acquire a 100% interest in the
Arlington Property
, located within the Boundary District
of south-central British Columbia where 2025 exploration work is planned consisting of geophysics and
diamond drilling designed to identify and delineate an apparent gold system. The Company is fully
funded to undertake proposed 2025 exploration and development at Silver Queen and Arlington.
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 including, but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. 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. These statements are based on a
number of assumptions, including, but not limited to, assumptions regarding TSX Venture Exchange
approval of the Offering, general economic conditions, interest rates, commodity markets, regulatory
and governmental approvals for the company's projects, and the availability of financing for the
company's development projects on reasonable terms. Factors that could cause actual results to
differ materially from those in forward-looking statements include market prices, exploitation and
exploration successes, 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/234734