Emerita Resources Announces a C$15 Million Private Fundraising
Emerita Resources Corp., a natural resource company primarily focused on exploring in Spain, has announced a private placement offering to raise funds for exploration and development work on its Spanish mineral properties, as well as for general corporate and working capital purposes.
The offering involves a private placement of up to 14,285,800 units at a price of CAD $1.05 per unit, for aggregate gross proceeds of up to CAD $15 million. Each unit consists of one common share and one-half of one common share purchase warrant.
Eric Sprott, one of Emerita's largest shareholders, has agreed to participate in the offering with a lead order of CAD $5 million, signifying a significant backing by a prominent investor.
The units will be offered through the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106. The closing date for the offering is scheduled for August 26, 2025, subject to certain conditions including TSX Venture Exchange approval.
Each warrant grants the holder the right to purchase one share at CAD $1.30 for 24 months following the closing date. The offering does not involve U.S. registration and cannot be sold or offered to U.S. persons without exemption, per regulatory restrictions.
The net proceeds of the offering will be used for exploration and development work on Spanish mineral properties, as well as general corporate and working capital purposes. The website for Emerita Resources Corp. is www.emeritaresources.com, and the Offering Document, prepared in the form prescribed by Form 45-106F19, can be accessed on the Company's profile at www.sedarplus.ca.
Readers should not place undue reliance on forward-looking information. The press release was provided by GlobeNewswire via QuoteMedia. For further information about Emerita Resources Corp., please contact Ian Parkinson at 1 647 910-2500 (Toronto) or [email protected].
Emerita Resources Corp. is raising funds for exploration and development work on Spanish mineral properties, as well as for general corporate and working capital purposes through a private placement offering of up to 14,285,800 units in the finance sector, with each unit consisting of one common share and one-half of one common share purchase warrant in business and investing. Notably, Eric Sprott, a significant shareholder, has agreed to participate with a lead order of CAD $5 million, indicating strong investor backing.
