Mr. Dean Pekeski reports
EQUITORIAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FOR UP TO $500,000
Equitorial Exploration Corp. will conduct, subject to a regulatory
approval, a non-brokered private placement of units of the company at a price of 10 cents per unit to raise gross proceeds of up to $500,000. Each unit will consist of one common
share of the company and one transferable share purchase warrant. Each warrant shall be
exercisable to acquire one additional common share of the company for a period of five years at a price of
20 cents per common share.
The private placement is subject to TSX Venture Exchange approval.
All securities issued under the private placement will be subject to a four-month hold period from the date of
issuance.
The company may pay a finder's fee in accordance with exchange policies and applicable securities
legislation. The proceeds of the private placement will be used to finance the company's various projects and
for general working capital.
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