EQUITAS RESOURCES CORP. CLOSES FLOW-THROUGH AND FIRST TRANCHE OF NON FLOW-THROUGH PRIVATE PLACEMENT

Equitas Resources Corp. has closed a first tranche of the private placement announced on Dec. 18, 2014. This closing included an oversubscription of the flow-through portion of the private placement. Gross proceeds raised are $441,200. The company has issued 2.2 million units and 6,624,000 flow-through units. Each unit consists of one common share and one share purchase warrant. Each flow-through unit consists of one common share and one-half of one share purchase warrant. Every whole share purchase warrant entitles the holder to purchase one common share at a price of 10 cents for 24 months after the closing.

All securities hereunder are subject to a four-month and a day hold from the closing date.

Finders' fees paid in conjunction with this financing were $21,200 and 424,000 share purchase warrants exercisable for 24 months from closing at 10 cents per full share.
The proceeds received from the flow-through units will be used by the company to incur qualified Canadian exploration expenses and the proceeds raised by the issuance of the units will be utilized for exploration of the company's Garland nickel project, corporate development, and general and administrative purposes.