Equity Metals Corporation Increases Previously Announced Private Placement
Vancouver, September 13, 2019 - New Nadina Explorations Ltd. (TSXV: NNA) has now changed its name to Equity Metals Corporation (the "Company") and has begun trading under the symbol "EQTY". The Company reports today that the previously announced $500,000 private placement has been increased to $1,000,000 due to increased demand. The Company now plans to issue up to 12,500,000 units in the non-brokered private placement at a price of $0.08 per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.12 per share.
The Company will make a provision for an over-allotment option (Greenshoe) to allow a purchase of up to 10% additional units beyond the number of units in this offering. Finders' fees and commissions may be paid by the Company in relation to the units sold in this offering.
Net proceeds from the private placement will be used to defray corporate expenses and to fund proposed work programs at the Silver Queen and Monument properties.
About Equity Metals Corporation
Equity Metals Corporation (previously "New Nadina Explorations Ltd.") is a Manex Resource Group Company. The Group provides expertise in exploration, administration, and corporate development services for Equity Metals' two mineral properties, the Silver Queen Au-Ag-Zn-Cu project, located in central B.C. and the Monument Diamond project, located in Lac De Gras, NWT.
The Company owns 100% interest, with no underlying royalty, in the 18,892ha Silver Queen Au-Ag-Zn-Cu project, which is located in the Omineca Mining Division near Owen Lake, British Columbia. The property hosts a series of high-grade, precious and base-metal veins related to a buried porphyry system, which was only recently discovered and has been only partially delineated. The Company also has a JV interest in the Monument Diamond project, strategically located on the south shore of Lac De Gras, NWT. Kimberlites of the Monument Property form part of the Lac de Gras cluster and occur within 40 km of both the Ekati Diamond Mine and Diavik Diamond Mines Ltd. The project owners are Equity Metals Corporation (57.49%); Chris and Jeanne Jennings (22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.C.
Chairman, Director, Equity Metals Corporation
For further information, visit the website at www.equitymetalscorporation.com; or contact us at 604.641.2759 or by email at ir@mnxltd.com.
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. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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