- Equity Metals Corporation (EQTY) has proposed to increase its previously-announced non-brokered private placement to $2,000,000
- Equity Metals intends to use the gross proceeds received from the sale of the FT units and CFT units for work programs on the company’s Silver Queen
- The Silver Queen property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties
- Equity Metals Corporation is a Manex Resource Group company which provides exploration, administration, and corporate development services
- Equity Metals Corporation was up 11.538 per cent, trading at $0.145 at 10:15 AM ET
Equity Metals Corporation (EQTY) has increased its previously-announced non-brokered private placement to $2,000,000.
The three-part 16,928,572-unit offering now consists of:
i. 8,000,000 non-flow-through units to be sold at a price of $0.10 per NFT unit for gross proceeds of $800,000;
ii. 4,166,667 flow-through units to be sold at a price of $0.12 per FT unit for gross proceeds of $500,000; and
iii. 4,761,905 charitable flow-through units are to be sold at a price of $0.147 per CFT unit for gross proceeds of $700,000.
The company will make provision for an over-allotment option (Greenshoe) to raise up to an additional 10 per cent of the gross proceeds in this offering ($2,200,000).
Each NFT unit will consist of one non-flow-through common share and one transferable share purchase warrant.
Each FT unit and CFT unit will consist of one flow-through common share and one warrant. Each warrant will entitle the holder thereof to purchase one non-flow-through common share for a period of 3 years at a price of $0.15.
Equity Metals intends to use the gross proceeds received from the sale of the FT units and CFT units for work programs on the company’s Silver Queen, Au-Ag, exploration property in British Columbia. The net proceeds received from the sale of the NFT units will be used for general working capital.
The Silver Queen property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties.
Equity Metals Corporation is a Manex Resource Group company which provides exploration, administration, and corporate development services for Equity Metals’ two major mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C., and the Monument Diamond project, located in Lac De Gras, NWT.
Equity Metals Corporation was up 11.538 per cent, trading at $0.145 at 10:15 AM ET.
