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Empress Royalty Announces Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRI...
About this update from Empress Royalty Corp
[{"type":"text","content":"Empress Royalty Announces Private PlacementNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / September 8, 2022 / Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) (\"Empress\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 6,500,000 units (the \"Units\") to be sold at a price of C$0.30 per Unit for gross proceeds of up to C$1,950,000 which is equivalent to approximately US$1,500,000 (the \"Offering\").Each Unit will be comprised of one common share of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at a price of C$0.60 for a period of five years from the closing date of the Offering.In the event, the closing price (or closing bid price on days when there are no trades) of Common Shares on the TSX Venture Exchange (the \"Exchange\") exceeds C$1.20 for a minimum of 20 consecutive trading days, the Company may provide written notice to each holder of Warrants requiring each holder to exercise such Warrants within 30 days following the date of delivery of such written notice, after which the Warrant will expire.The Common Shares, Warrants and Warrant Shares will be subject to a resale hold period under Canadian securities laws until four months from closing. The Offering may close in one or more tranches. The Offering is subject to the approval of the Exchange.The Company intends to use the proceeds of the Offering to evaluate potential royalty and streaming investment opportunities, increase market awareness in the U.S. and for general working capital purposes.The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solic...