VANCOUVER, March 18, 2014 /CNW/ - Equitas Resources Corp. (TSXv: EQT; FSE: T6U1) (the "Company" or "Equitas") is pleased to announce that Mr. Emil Fung, B.A.Sc., MBA, a corporate development and finance specialist, has been added to the Company's Advisory Board. Mr. Fung will assist Company management on corporate and financial matters.
Mr. Fung is an engineer by training, a former investment banker, and a business development specialist. He presently heads Harthouse Advisors, a boutique advisory firm specializing in international strategic advisory, corporate fund-raising and mergers & acquisitions for junior resource companies in the energy and resource industries. Previously, Mr. Fung served as a Director of TSX-listed CanAlaska Uranium and was responsible for the company's successful corporate finance and development efforts.
Mr. Fung has worked extensively world-wide across a variety of industries and corporate functions. As a corporate financier, he worked on Wall Street with TD Securities in corporate finance and M&A. As an entrepreneur, he was a founding member and Chief Financial Officer of Hong Kong's i-Cable, the territory's premier cable television franchise. As a strategic advisor, he consulted for top S. Korean chaebols in financial and operational restructuring during the Asian economic crisis. As a venture capitalist, he founded and managed a private equity fund specializing in China private investments, realizing sizeable returns in capturing the forefront of the spectacular growth of Chinese private enterprise during the early millennium.
Mr. Fung is a B.A.Sc. graduate from the University of Toronto in chemical engineering. He also earned an M.B.A. degree in international business from Toronto's Schulich School of Business and is presently completing his Masters of Laws (L.L.M.) degree at Toronto's Osgoode Hall Law School.
"We are pleased that Emil has agreed to join our Advisory Board. Emil is a strong and experienced resource corporate development and finance executive and his experience and knowledge, particularly in seeing opportunities and building and bridging successful international partnerships, will help us in advancing the Company's business objectives," said Dave Hodge, President and CEO.
The Advisory Board consults with the Equitas Board of Directors and Management on the development of the Company's projects as well as business and corporate development opportunities.
In conjunction with his appointment to the Advisory Board, the Company has granted Mr. Fung 400,000 incentive stock options exercisable for a period of five years from the date of grant at a price of $0.10 per share.
About Equitas Resources Corp.
Equitas Resources Corp. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. Equitas has a portfolio of base metal and precious metal projects in British Columbia and the Northwest Territories. Zijin Mining Group Ltd. of China (through their subsidiary Yield Gold Group Ltd.) is a major shareholder of the company owning 17% of the Company. Zijin is a leading gold, copper and non-ferrous metals producer and refiner in Mainland China.
On Behalf of the Board of Directors
EQUITAS RESOURCES CORP.
President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Equitas undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Equitas Resources Corp.
For further information: For more information on the property portfolio and Equitas, please visit www.equitasresources.com or contact: Matt Sroka, Shareholder Services, Toll Free: 1.877.377.6222, Phone: 604.681.1568, Cell: 604.219.2140, Email: [email protected]