Equity Metals (EQTY.V) announced last week it is extending the closing date of its flow-through placement. Additionally, it is upsizing the placement as the company now expects to issue almost 13.8 million flow-through units at a price of C$0.295 per unit. Each unit will consist of one flow-through share as well as half a non-flow-through warrant. Each full warrant is exercisable to acquire an additional common share for C$0.295 for a period of three years.
This raise will put the company in a strong financial position to complete its 6,000 meter drill program on its Silver Queen flagship project. The Cole and George Lake targets will be thoroughly drilled, and the company kicked off its 2024 drill program with holes on the George Lake target where it has already completed five drill holes. The assay results haven’t been published yet but should be available in the next few weeks.
Disclosure: The author has a long position in Equity Metals. Equity Metals is a sponsor of the website. Please read the disclaimer.
