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Emerita Announces Upsize to C$25M Brokered Private Placement Financing
Globenewswireยท 2025-08-13 19:31
Group 1 - Emerita Resources Corp. has increased the size of its previously announced private placement from $15,000,090 to up to $24,999,975 due to strong investor demand [1][2] - The Offering will consist of up to 23,809,500 units priced at $1.05 per unit, with each unit comprising one common share and one-half of a common share purchase warrant [2] - Each warrant will allow the holder to purchase one common share at an exercise price of $1.30 for a period of 24 months following the completion of the Offering [2] Group 2 - The net proceeds from the Offering will be utilized for exploration and development work on the Company's Spanish mineral properties, as well as for general corporate and working capital purposes [3] - The Offering will be conducted under the Listed Issuer Financing Exemption, meaning the securities issued will not be subject to a statutory hold period under Canadian securities laws [4] - The Offering is expected to close on or about August 26, 2025, pending necessary approvals, including that of the TSX Venture Exchange [5] Group 3 - 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 [8]