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Emerita Resources Announces Closing of C$5 Million Non-Brokered Private Placement
TORONTO, May 02, 2024 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSXV: EMO) (the “Company” or “Emerita”) announces that further to its press release on April
About this update from Emerita Resources Corp.
[{"type":"text","content":" TORONTO, May 02, 2024 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSXV: EMO) (the “Company” or “Emerita”) announces that further to its press release on April 18, 2024, it has closed a non-brokered private placement financing of 12,500,000 units (the “Units”) at $0.40 per Unit for gross proceeds of $5,000,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.60 per Common Share for a period of 36 months following the date hereof. Securities issued under the Offering carry a hold period of 4 months and one day from the date hereof as required under applicable securities laws. The Company plans to use the aggregate net proceeds of the Offering to continue the exploration and development work on its Spanish mineral properties as well as general corporate working capital purposes. The Offering remains subject to final approval of the TSX Venture Exchange (“TSXV”). No finder fees were paid by the Company in connection with the Offering. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. About Emerita Resources Corp. Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe, with a primary focus on exploring in Spain. The Company’s corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada. For further information, contact: Ian Parkinson+1 647 910-2500 (Toronto)[email protected] Cautionary Note Regarding Forward-looking Information This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Offering; the Company’s intended use of proceeds from the Offering; the approval ...