Mr. Dean Pekeski reports

EQUITORIAL CLOSES THIRD TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $145,346

Equitorial Exploration Corp. has closed a third tranche of its non-brokered private placement for gross proceeds of $145,346.55. The private placement was previously announced in the company's news release of July 11, 2014.

The private placement is for units of the company at a price of 15 cents per unit. Each unit consists of one common share of the company and one-half of one transferable share purchase warrant. Each warrant shall be exercisable to acquire one additional common share of the company for a period of two years at a price of 25 cents per common share.

The company closed a first tranche of the private placement in the amount of $117,750 on Aug. 11, 2014, and a second tranche of the private placement in the amount of $404,749.65, for total gross proceeds to date of $667,846.20.

In connection with closing the third tranche, the company paid total cash finders' fees of $10,211.50 and issued a total of 68,076 broker warrants to Haywood Securities Inc. and Richard Fite (Haywood receiving $3,750 and 25,000 broker warrants, and Fite receiving $6,461.50 and 43,076 broker warrants).

Each broker warrant is exercisable to acquire an additional common share of the company for a period of two years at a price of 25 cents per common share. All securities issued under the third tranche are subject to a four-month-and-a-day hold period from the date of issuance.

The proceeds of the third tranche will be used for general working capital and to finance the company's various projects, as disclosed in the company's recent news releases.