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Emerita Resources Announces Increase to Loan Financing with Nebari Resources to Advance IBW Project
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUT...
About this update from Emerita Resources Corp.
[{"type":"text","content":"Emerita Resources Announces Increase to Loan Financing with Nebari Resources to Advance IBW Project\n\n\n\n THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.\n \n\n TORONTO, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSXV: EMO) (the “\n \n Company\n \n ” or “\n \n Emerita\n \n ”) announces that it has entered into an amended credit agreement (the “\n \n Loan Agreement\n \n ”) with Nebari Natural Resources Credit Fund II, LP (the “\n \n Lender\n \n ” or “\n \n Nebari\n \n ”) pursuant to which a fourth tranche of USD$35,000,000 will be made available as a standby loan to the Company (the “\n \n Upsized Loan\n \n ”).\n \n\n Pursuant to the Upsized Loan, the maximum aggregate principal amount that Emerita may borrow from the Lender is USD$50,000,000 in four tranches of: (i) USD$6,000,000 (“\n \n Tranche 1\n \n ”); (ii) USD$4,500,000 (“\n \n Tranche 2\n \n ”); (iii) USD$4,500,000 (“\n \n Tranche 3\n \n ”); and (iv) USD$35,000,000 (“\n \n Tranche 4\n \n ” and, together with Tranche 1, Tranche 2 and Tranche 3, the “\n \n Tranches\n \n ” and each a “\n \n Tranche\n \n ”). As of today’s date, Emerita has only drawn down on Tranche 1 of the Upsized Loan (Please see Emerita’s press release dated August 19, 2024 for further details regarding Tranche 1). Other than the addition of Tranche 4, no other changes have been made to the original loan agreement between Emerita and Nebari dated August 14, 2024, as amended (Please see Emerita’s press release dated August 14, 2024 for further details regarding the original loan agreement).\n \n\n The Upsized Loan provides flexible financial support to allow Emerita to continue to advance its wholly-owned Iberian Belt West Project (the “\n \n IBW Project\n \n ” or “\n \n IBW\n \n ”) and a drawdown under each of Tranches 2,3 and 4 is at the sole discretion of the Company.\n \n\n David Gower, Emerita’s Chief Executive Officer, commented: “The upsized facility provides Emerita with increased financial flexibility to advance the IBW Proj...