Equitas ResourcesCorp. said April 7 that it closed a previously announced C$1 million private placement oversubscribed,raising C$1.5 million.

The company issued a total of 30 million units. It previouslyplanned to issue only up to 20 million units.

Proceeds will be used for corporate development, general andadministrative costs and toward the acquisitionof a 100% interest in Alta FlorestaGold Ltd.