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Emerita Resources Announces C$15 Million Private Placement
Globenewswireยท 2025-08-13 12:00
Group 1 - Emerita Resources Corp. has engaged Clarus Securities Inc. and Velocity Trade Canada as co-lead agents for an offering of up to 14,285,800 units at a price of $1.05 per unit, aiming for gross proceeds of up to $15,000,090 [2][3] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one share at $1.30 for 24 months post-closing [3] - The net proceeds from the offering will be allocated to exploration and development of Spanish mineral properties, as well as general corporate and working capital purposes [5] Group 2 - The offering will be conducted under the Listed Issuer Financing Exemption, meaning the securities will not be subject to a statutory hold period under Canadian securities laws [4] - The closing date for the offering is scheduled for around August 26, 2025, pending necessary approvals including from the TSX Venture Exchange [5] - Eric Sprott, a significant shareholder, has committed to a lead order of $5 million in the offering [3] Group 3 - Emerita Resources Corp. focuses on the acquisition, exploration, and development of mineral properties in Europe, particularly in Spain, with its corporate office in Sevilla and an administrative office in Toronto [8]