Equus Mining: Raises $1.54m for Cerro Bayo, Chile

Equus Mining Raises $1.54m for Cerro Bayo, Chile

• Equus Mining (EQE) raises $1.54 million via an institutional placement to advance exploration and resource evaluation across the Cerro Bayo project in Chile
• Equus is issuing around 12.7 million new shares in the first tranche and, subject to shareholder approval, will issue 2.7 million to company directors at 10 cents per share
• The shares will be issued at 10 cents each which represents a 10.79 per cent discount to the five-day volume-weighted average price
• The company will also be provided with a two-year US$2.2 million (A$3.15 million) corporate debt facility for the project, under a deal with Tribeca Global Resources Credit
• Shares in EquusMining hold steady at 11 cents at 3:33 pm AEST