Equitas Signs Definitive Agreement with Gold Producer
Equitas Resources Corp. Completes Due Diligence and Signs Definitive Agreement to Acquire Alta Floresta Gold Ltd.
– Momentum Public Relations – March 7, 2016
Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (USA: EQTRF) (“Equitas” or the “Company”) is pleased to announce it has signed a definitive agreement to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in Alta Floresta Gold Ltd. (“Alta Floresta Gold”). Upon regulatory approval of the acquisition, Equitas plans to construct a gravity plant to expand the current production activities at the Cajueiro gold zones.
Alta Floresta Gold Ltd. is a private company which holds a 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} equity interest in Alta Floresta Mineracao Ltd. (“Alta Floresta Mineracao”). Alta Floresta Mineracao holds six gold properties, and four production licences, over 184,410 hectares of land in the Mato Grosso and Para states of Brazil. Alta Floresta Mineracao is focused on production activities and defining additional gold resources at the Cajueiro Project.
About Equitas Resources Corp.
Equitas Resources is a Canadian-based mineral exploration company with a focus on nickel, copper, platinum group metals (PGM) and cobalt. The Company’s Garland Property is 23,386 hectares and located in the Voisey’s Bay district of Labrador, Canada. Upon approval of the definitive agreement Equitas will become a Canadian-based mineral production, development and exploration company.
For more information on Equitas Resources please visit our website at: www.equitasresources.com.
- Published in Equitas Resources, Mining, News Home
Equitas (EQT:V) Closes Final Tranche of Financing
Equitas Resources Corp. Closes Final Tranche of Private Placement, Raising over $1.9M
Equitas Resources Corp. has closed the second and final tranche of the private placement that was announced on Sept. 10, 2015. This closing included gross proceeds raised of $309,500.
The company has issued 2,476,000 units at 12.5 cents per unit. Each unit consists of one common share and one share purchase warrant. Every share purchase warrant entitles the holder to purchase one common share at a price of 25 cents for 12 months after the closing.
Combining both tranches, the company issued a total of 10,887,393 units for combined gross proceeds of $1,360,924. In addition, since Sept. 1, 2015, the company has received over $550,000 through the exercise of share purchase warrants and stock options.
All securities hereunder are subject to a four-month-and-one- day hold from the closing date. Finders’ fees paid in conjunction with this closing were $10,625 cash and the issuance of 64,000 share purchase warrants exercisable for 12 months from closing at 25 cents per share.
The proceeds received from the units will be used by the company for continuing exploration and drilling of the company’s Garland nickel project, corporate development, and general and administrative purposes.
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