11:23 AM EST, 11/25/2024 (MT Newswires) -- Equity Metals ( EQMEF ) on Monday said it plans to raise $2.16 million through a private placement of flow-through share units.

The company said it will place up to eight-million Charity/Premium flow-through units at $0.27 each. Each unit will consist of one tax-advantaged flow-through share and half of one non-flow-through warrant. Each three-year warrant can buy one non-flow-through share at $0.27.

Proceeds will be used to develop the Silver Queen project and for initial surface work and drilling on the newly acquired Arlington property. Both projects are in British Columbia.

Equity shares were last seen down $0.005 to $0.185 on the TSX Venture Exchange.

Price: 0.19, Change: -0.01, Percent Change: -2.63