Equity Metals Corporation (TSX-V:EQTY, OTCQB:EQMEF) said it has closed its previously announced flow-through private placement by issuing a total of 6,263,112 flow-through (FT) units at $0.13 each for gross proceeds of $814,204.56.
Each FT unit consists of one flow-through common share and half of one share purchase warrant, with each whole warrant entitling the holder to purchase one non-flow-through common share for three years for $0.20.
Proceeds received from the placement will be used for work programs on the company's Silver Queen silver-gold exploration property in British Columbia.