Lithium Equity Financing British Columbia TSX Venture OTC FSE Northwest Territories

Equitorial Exploration announces $640K private placement

News Release

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

EQUITORIAL EXPLORATION ANNOUNCES PRIVATE PLACEMENT OF UNITS

Vancouver, BC, Canada – May 3, 2018 – Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) is pleased to announce that it will proceed with a non-brokered private placement (the “Offering”) of up to 8,000,000 units (the “Units”) at a price of $0.08 per Unit for proceeds of up to $640,000. Certain members of the Company’s board and management may participate in the Offering.

Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.12 per Share for a period of 24 months from the date of issuance.

The Warrants will be subject to an accelerated expiry if, anytime following the expiration of the four-month hold period, the Shares trade at a price equal to or greater than $0.20 on the TSX Venture Exchange such other market as the Shares may trade from time to time, for ten (10) consecutive trading days, in which event the Subscriber may, at the Issuer’s election, be given notice that the Warrants of the Issuer will expire 30 days following the date of such notice. The Warrants may be exercised by the Holder during the 30 day period between the notice and the expiration of the Warrants.

The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange (“TSXV”).

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSXV. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions.
The Company will use the proceeds for general corporate working capital.

About Equitorial Exploration Corp

Equitorial is aggressively developing four 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.

For more information please visit: http://equitorialexploration.com/

On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285

Neither the 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.

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