November 22, 2010 - Equitas Resources Corp. (TSXv: EQT) (FSE: T6U1) (the “Company”) announces that it has amended its private placement previously announced on November 2, 2010. It was previously announced that the proceeds of the private placement would be used to initiate work on the Company’s Day Copper-Gold Porphyry Project in the Toodoggone Region of north-central British Columbia and for general working capital. The use of proceeds will now be used solely towards general working capital.
The private placement will consist of 1,350,000 units at a price of $0.12 per unit for gross proceeds to the Company of $162,000. Each unit consists of one common share and one share purchase warrant, exercisable into one additional common share of the Company until November 22, 2012 at a price of $0.13 per share. A finder’s fee may be payable in connection with the private placement and under the policies of the TSX Venture Exchange. The closing of the proposed private placement is not subject to the regulatory approval on the Day Property acquisition.
About Equitas Resources Corp.
Equitas Resources is a junior exploration and development company focused on resource opportunities in Canada. The Company is at the early stage of the value creation process with its flagship project the Day Copper-Gold Porphyry Project located in the Toodoggone region of north-central British Columbia. For more information please visit the Company’s website at http://www.equitasresources.com, or email firstname.lastname@example.org.
On Behalf of the Board of Directors
Equitas Resources Corp.
Jay Roberge President & Director
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.
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. Forward-looking statements in this news release include that the proceeds of the private placement will be for general working capital and that a finder’s fee may be payable in accordance with the policies of the TSX Venture Exchange.
It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.