Business
EMP METALS CLOSES FIRST TRANCHE FINANCING AND ANNOUNCES FURTHER INCREASE TO $3,000,000
EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) ("EMP Metals" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement financing (the "First Tranche", see news release dated May 12 and May 25, 2026), by issuing 3,871,000 units ("Units) at $0.50 per Unit for gross proceeds of $1,935,500 (the "Offering").
About this update from Emp Metals Corp
VANCOUVER, BC, May 28, 2026 /CNW/ - EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) ("EMP Metals" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement financing (the "First Tranche", see news release dated May 12 and May 25, 2026), by issuing 3,871,000 units ("Units) at $0.50 per Unit for gross proceeds of $1,935,500 (the "Offering"). Each Unit under the Offering will consist of one common share ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.70 per Share for a period of one (1) year from the date of issue. All securities issued will be subject to a statutory hold period of four months plus one day from closing and the hold period contemplated in Canadian Securities Exchange (the "CSE") policies. In connection with the First Tranche, the Company paid finders a cash fee totaling $122,557.50 and issued a total of 245,115 Warrants (the "Finder's Warrants"). Each Finder's Warrant is exercisable at $0.70 per Share for a period of one (1) year from the date of issue. The proceeds of the Offering will be used for the development costs of its Lithium Brine Properties in Saskatchewan and for general working capital purposes. Further Upsize of Financing Concurrent with the closing of the First Tranche and due to strong investor demand, the Company has further increased the size of the Offering. The Company will now issue up to 6,000,000 Units at a price of $0.50 per Unit for gross proceeds of up to $3,000,000. All other terms of the Offering remain unchanged. The closing of the Offering is subject to certain closing conditions including, but not limited to, receipt of all necessary approvals including the approval of the CSE. The securities to be offered under 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...