Emerita Resources Announces Closing of $3 Million Non-Brokered Private Placement

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TORONTO, June 16, 2023 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (“Emerita” or the “Company”) (TSXV:EMO) announces that, further to its news release of June 5, 2023, it has closed the non-brokered private placement offering of units of the Company (the “Units”) pursuant to which the Company issued an additional 7,500,000 Units at a price of $0.40 per Unit (the “Offering Price”) for aggregate gross proceeds of $3,000,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles 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. Securities issued under the Offering will carry a statutory hold period of 4 months and one day from the date hereof.

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