Emerita Resources Announces Closing of $8 Million Private Placement Offering

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Last update: Jun 13, 2023

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TORONTO, June 13, 2023 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (“Emerita” or the “Company”) (TSX-V:EMO) is pleased to announce that it has closed its previously announced private placement offering of units of the Company (the “Units”) pursuant to which the Company issued 20,000,000 Units at a price of $0.40 per Unit (the “Offering Price”) for aggregate gross proceeds of $8,000,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.60 per Common Share for a period of 36 months following the date hereof (the “Closing Date”). The Offering was led by Clarus Securities Inc., as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”) that included Canaccord Genuity Corp., Desjardins Securities Inc., Stifel Nicolaus Canada Inc., and iA Private Wealth Inc.