Commenting on the private placement of shares, Wade Cherwayko, Chief Executive Officer of Equator said, "We are pleased with the positive response to the private placement and the continuing support of our shareholders. The funds raised will support the company's aggressive drilling program for 2006 as well as the possible acquisition of additional exploration acreage."
In addition, Equator is pleased to announce the granting of 50,000 options to advisors of the company. The options are exercisable, subject to semi-annual vesting over two years, at a price of 206.80p within five years from the date of the grant.
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