Emerita Announces Closing of C$25M Brokered Private Placement and C$1.09M Concurrent Non-Brokered Private Placement

Core Viewpoint - Emerita Resources Corp. has successfully closed a brokered private placement and a concurrent non-brokered private placement, raising a total of approximately C$26 million for exploration and development activities in Spain [2][3][7]. Group 1: Offering Details - The brokered private placement involved the issuance of 23,809,500 units at a price of C$1.05 per unit, resulting in gross proceeds of C$24,999,975 [2]. - The non-brokered private placement issued 1,040,000 units at the same offering price, generating gross proceeds of C$1,092,000 [3]. - Each unit consists of one common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of an additional common share at C$1.30 until August 26, 2027 [4]. Group 2: Financial Arrangements - The agents involved in the brokered offering received a cash commission of C$1,727,213.25 and 1,644,965 non-transferable compensation options [5]. - The securities from the brokered offering are not subject to a statutory hold period, while those from the non-brokered offering will have a hold period of four months and a day [6]. Group 3: Use of Proceeds - The net proceeds from the offerings will be allocated towards exploration and development of the company's mineral properties in Spain, as well as for general corporate and working capital purposes [7]. Group 4: Company Overview - Emerita Resources Corp. is focused on the acquisition, exploration, and development of mineral properties in Europe, primarily in Spain, with its corporate office in Sevilla and an administrative office in Toronto [10].