Emerita Announces Exercise of Warrants by Eric Sprott
November 15 2021 - 7:50AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that Mr. Eric Sprott has
exercised all of his outstanding Emerita common share purchase
warrants (“Warrants”) for total proceeds to the Company of
$2,045,454.
David Gower, Emerita’s
CEO, stated: “Emerita is fortunate to have the support of
Mr. Eric Sprott as our largest shareholder. It is important to our
business to have stable, long term support from such a highly
experienced and successful investor. Mr. Sprott’s ongoing support
strengthens the Company’s ability to accelerate the development of
its projects in Spain.”
Mr. Eric Sprott, through 2176423 Ontario Ltd., a
corporation which is beneficially owned by him, exercised a total
of 6,818,181 Warrants at an exercise price of $0.30 per common
share (“Share”).
Following the completion of the exercise of his
Warrants, Mr. Sprott beneficially owns and controls 20,454,544
Shares, representing approximately 10.7% of the issued and
outstanding Shares on a non-diluted basis. Prior to the Warrants
exercise, Mr. Sprott beneficially owned and controlled 13,636,363
Shares and 6,818,181 Warrants, representing approximately 7.4% of
the issued and outstanding Shares of the Company on a non-diluted
basis, and 10.7% on a partially diluted basis.
The Shares were acquired by Mr. Sprott for
investment purposes. Mr. Sprott has a long-term view of the
investment and may acquire additional securities of the Company
including on the open market or through private acquisitions or
sell securities of the Company including on the open market or
through private dispositions in the future depending on market
conditions, reformulation of plans and/or other factors that Mr.
Sprott considers relevant from time to time.
A copy of the early warning report with respect
to the foregoing will appear on the Company’s profile on the System
for Electronic Document Analysis and Retrieval at www.sedar.com and
may also be obtained by calling Mr. Sprott’s office at (416)
945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal
Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
About Emerita Resources
Corp.Emerita is a natural resource company engaged in the
acquisition, exploration and development of mineral properties in
Europe, with a primary focus on exploring in Spain. The Company’s
corporate office and technical team are based in Sevilla, Spain
with an administrative office in Toronto, Canada.
For further information, contact:
Joaquin Merino+34 (628) 1754 66 (Spain)
Helia Bento+1 416 566 8179
(Toronto)info@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, regarding conversion of the Company’s convertible
securities and the Company’s future. 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.
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