December 2, 2010 - Equitas Resources Corp. (TSXv: EQT) (FSE: T6U1) (the “Company”) announces that it has completed a private placement of 1,350,000 units at a price of $0.12 per unit for gross proceeds to the Company of $162,000.
Each unit consisted of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.13 per share. The securities are subject to a four-month hold period, expiring March 30, 2011.
Finder’s fees of $1,500 cash was paid in accordance with the policies of the TSX Venture Exchange.
The proceeds of the private placement will be used for general working capital.
About Equitas Resources Corp.
Equitas Resources Corp. is a mineral exploration company managed by an experienced team of professional with a solid track record of exploration success. The Company is currently advancing its DAY Copper-Gold Project located in the highly prospective 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 to be added to the Company’s news distribution list.
On Behalf of the Board of Directors
Equitas Resources Corp.
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 used towards the Company’s general working capital.
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 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 & Analysis of its audited financial statements filed with the British Columbia Securities Commission.