Business
Emperor Metals Closes First Tranche of Private Placement; Retains Investor Relations Group
Vancouver, British Columbia--(Newsfile Corp. - December 9, 2022) - Emperor Metals Inc. (CSE: AUOZ) ("Emperor") is pleased to announce that it has closed the fir
About this update from Emperor Metals, Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 9, 2022) - Emperor Metals Inc. (CSE: AUOZ) (\"Emperor\") is pleased to announce that it has closed the first tranche of its non-brokered private placement financing, previously announced on November 25, 2022. The first tranche consisted of 10,155,728 flow-through shares (the \"FT Shares\") at a price of $0.23 per FT Shares for gross proceeds of up to $2,335,817. In connection with the sale of these FT Shares, Emperor also paid a total of $138,907 in cash and issued 603,943 finder's warrants (\"Finder's Warrants\") to eligible finders for certain of the FT Shares sold. Each Finder's Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.17 for a period of 24 months from the date of issue of the Finder's Warrant. All securities issued are subject to a hold period of four-month and a day from the Closing Date. Emperor expects to close a second tranche consisting of additional FT Shares as well as non flow-through units (as described in the Company's news release dated November 25, 2022) in the near future. The gross proceeds from the sale of all FT Shares will be used to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" as such terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") related to the Company's Duquesne West Gold Project located in Quebec, Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2022. Subscribers resident in the Province of Quebec may also qualify for additional provincial tax credits. For further information regarding Emperor's acquisition of the Duquesne West Gold Project, please see our news release dated October 12, 2022 as posted on SEDAR. Emperor is also pleased to announce that it has retained the services of Peak Investor Marketing Corp. (\"Peak\") a full-service marketing and consulting services focused on the junior mining sector. Peak is an independent arms-length entity and will assist the Company with marketing strategy and planning, corporate communications and public relations, with the goal of increasing market awareness for the company. Under the terms of the Agreement, the Company will compensate Peak $12,000.00 per month for an initi...