Equitas Resources Corp. Announces $500,000 Non-Brokered Private Placement


November 17th, 2016

Equitas Resources Corp. Announces $500,000 Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES

November 17, 2016 - Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (USA: EQTRF) (“Equitas” or the “Company”) announces that it has arranged a non-brokered private placement. It is anticipated that insiders of the Company plan to participate for a large portion of the placement. However, subscribers who are not insiders will be given priority.

The Company proposes to raise up to $500,000 through a non-brokered private placement of up to 11,111,111 units (“Units”) at a price of $0.045 per Unit for maximum funds of $500,000. Each Unit is comprised of one common share and one share purchase warrant exercisable at $0.08 per warrant share for a period of eighteen months from the issue date.

All the securities will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange. No finder’s fees are payable in connection with this private placement.

Proceeds of the private placement are expected to be utilized for exploration expenditures of Equitas gold portfolio within Brazil of $205,435, and for general and corporate purposes of $294,565, including salaries and fees to related parties of $92,500.

In addition to other prospectus exemptions commonly relied on in private placements, the Units will be available for purchase by existing shareholders of the Company who, as of the close of business on November 16, 2016, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption from prospectus requirement for certain trades to existing security holders and in similar instruments in other jurisdictions in Canada (the “Existing Shareholder Exemption”). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is a resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption that exceeds $500,000, then the Company may adjust the subscriptions received on a pro-rata basis.

For more information on Equitas Resources Corp. and it’s proposed placement, please contact Investor Relations at 604-681-1568 or info@equitasresources.com.

On Behalf of the Board of Directors,

EQUITAS RESOURCES CORP.

“Alan Carter”

Alan Carter

President & CEO

Tel: 604.681.1568

info@equitasresources.com

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 purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Forward looking statements in this news release include, but are not limited to the Company being able to raise the $500,000 and to meet its ongoing cash flow requirements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Factors that could cause actual results to differ materially include that we are unable to raise sufficient interest in the financing; that we may not be able to raise sufficient funds to complete our intended exploration and development; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Except as required by law, we do not undertake to update these forward-looking statements.


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