Emerita Resources Corp. Announces $10,000,100 “Bought Deal” Financing
June 25 2021 - 7:37AM
Emerita Resources Corp. (TSXV:EMO) (the “Company”) is pleased to
announce that it has entered into an agreement with Clarus
Securities Inc. and Research Capital Corporation as co-lead
underwriters and joint book runners on behalf of a syndicate of
underwriters (collectively, the "Underwriters") to purchase, on a
bought deal private placement basis, 9,091,000 Units of the Company
at a price of $1.10 per Unit, for aggregate gross proceeds of
$10,000,100 (the “
Offering”). The Company has also
granted to the Underwriters an option to purchase an additional
1,363,650 Units at the same price, exercisable by the Underwriters
for a period of up to two days prior to closing of the Offering for
additional gross proceeds of up to $1,500,015.
The Company plans to use the net proceeds of the
Offering for working capital requirements and general corporate
purposes.
The Offering is scheduled to close on or about
July 15, 2021, and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals
including the approval of the TSX Venture Exchange (“TSXV”). The
securities to be issued under this Offering will be offered by way
of private placement exemptions in all the provinces of
Canada, and in the United States on a private
placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as
amended.
The securities being offered have not, nor will
they be registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of
securities in the United States.
About Emerita Resources
Corp.Emerita is a Canadian natural resource company
engaged in the acquisition, exploration and development of mineral
properties with a primary focus on exploring in Spain. Management
has spent decades with major mining companies globally and has a
successful track record that includes numerous mineral deposit
discoveries and subsequent project developments in North and South
America, Africa and Australia. The Company’s corporate office and
technical team are based in Sevilla, Spain with an administrative
office in Toronto, Canada.
The Company’s shares are listed on the TSXV
under the symbol "EMO".
For further information please refer to the
Company’s website at www.emeritaresources.com
Cautionary Note Regarding
Forward-looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the Offering and the Company’s
future plans. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward- looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Emerita, as the case may be, to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: general business, economic, competitive,
geopolitical and social uncertainties; the actual results of
current exploration activities; risks associated with operation in
foreign jurisdictions; ability to successfully integrate the
purchased properties; foreign operations risks; and other risks
inherent in the mining industry. Although Emerita has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Emerita does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
David Gowerdgower@fmresources.ca
Emerita Resources (TSXV:EMO)
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