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Equity Metals Announces Increase to Previously Announced Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2023) - Equity Metals Corporation  ...
About this update from Equity Metals Corporation
[{"type":"text","content":"Equity Metals Announces Increase to Previously Announced Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 4, 2023) - Equity Metals Corporation (TSXV: EQTY) (the \"Company\" or \"Equity Metals\") reports that it is increasing the previously announced non-brokered private placement of securities and is now issuing up to a total of 6,263,112 flow-through units (the \"FT Units \") at a price of $0.13 per FT Unit for gross proceeds of $814,204.56 (the \"Offering\"). Each FT Unit will be comprised of one flow-through common share and one-half of one non-flow-through warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share for a period of 3 years at a price of $0.20.The proceeds received from the sale of the FT Units will be focused on the initial delineation of two new targets located to the northeast of, and not included in, the earlier 2022 updated Mineral Resource estimate on the Silver Queen, gold/silver project, in British Columbia. These additional funds allow for drilling to continue well into summer on the Cole and George Lake veins systems (Figure 1), which have been partially tested by historical drilling. The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from closing. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.Figure 1: Plan Map of targets on the Silver Queen vein system, BCTo view an enhanced version of this graphic, please visit:https:/...