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New Nadina Explorations Limited Changes Name to Equity Metals Corporation

Mining News - Published on Wed, 18 Sep 2019

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New Nadina Explorations Limited has now changed its name to Equity Metals Corporation and has begun trading under the symbol EQTY. The Company reported that the previously announced USD 500,000 private placement has been increased to USD 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 USD 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.

However, the Company will make a provision for an over-allotment option 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.

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Posted By : Rabi Wangkhem on Wed, 18 Sep 2019
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