Equatorial Resources Limited (ASX:EQX) announced that it will issue 1,500,000 common shares at a price of AUD 0.3 per share for the gross proceeds of AUD 450,000 on November 18, 2020. The transaction will include participation from John Welborn, incoming Managing Director and Chief Executive Officer of the company. The transaction is subject to approval from shareholder meeting to be held on January 20, 2021. The transaction is also expected to close on January 20, 2021.