Emerita Resources Corp. announces an increase in its “purchase agreement”
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR UNITED STATES DISTRIBUTION.
TORONTO, June 25, 2021 (GLOBE NEWSWIRE) – Emerita Resources Corp. (TSXV: EMO) (the “Company“) is pleased to announce today that due to strong demand, it has entered into an agreement with Clarus Securities Inc. (“Clarus”) And Research Capital Corporation (“Research capital“) as co-lead managers and associate bookrunners on behalf of a syndicate of underwriters (collectively, the”Subscribers”), To increase the size of its previously announced CA $ 10,000,100 private placement. Pursuant to the terms of the Enhanced Agreement, the Underwriters have agreed to purchase, by way of a “bought deal” private placement, 14,546,000 units of the Company (the “Units“) At a price of CA $ 1.10 per unit (the”Offer price“) for total gross proceeds accruing to the Company of CA $ 16,000,600 (the”Offer“). Each unit will consist of one ordinary share of the Company (a “Unit share“) and a half common share purchase warrant (each whole common share purchase warrant, a”To guarantee“). Each warrant will allow its holder to purchase one common share of the Company (a “Warrant share”) At a price of C $ 1.50 for a period of 24 months following the closing date (as defined below).
The Company has also granted the underwriters an option to purchase an additional 3,636,500 units at the same price, exercisable by the underwriters for a period of up to two days prior to the closing of the offering for additional gross proceeds. up to $ 4,000,150.
The Company expects to use the net proceeds of the Offering for working capital and general business purposes.
The offering is scheduled to close on or about July 15, 2021 and is subject to certain conditions, including, but not limited to, receipt of all necessary approvals from the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all provinces of Canada. The Units to be issued under this Offer will also be offered abroad, including in the United Kingdom in accordance with applicable exemptions and in the United States on a private placement basis in accordance with the exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
The securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or at, or on behalf of or for the benefit of United States persons without United States registration or an applicable exemption from United States registration requirements. This press release does not constitute an offer to sell or a solicitation of offers to buy any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.
About Emerita Resources Corp.
Emerita is a Canadian natural resources company engaged in the acquisition, exploration and development of mineral properties with a focus on exploration in Spain.
The management has spent decades with large mining companies globally and has a successful track record that includes numerous mineral deposit discoveries and subsequent project development in North and South America, Africa and Australia. . The Company’s head office and technical team are based in Seville, Spain, with an administrative office in Toronto, Canada.
The Company’s shares are listed on the TSX Venture Exchange under the symbol “EMO”.
For more information, please visit the Company’s website at www.emeritaresources.com
Caution regarding forward-looking information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding the Company’s offer and future plans. Generally, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “expected”. , “Estimates”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results “Could”, “could”, “could”, “could” or “will be taken”, “occur” or “be reached”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Emerita’s actual results, level of activity, performance or achievements, 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 ongoing exploration activities; risks associated with operating in foreign jurisdictions; ability to successfully integrate purchased properties; risks associated with foreign operations; and other risks inherent in the mining industry. Although Emerita has attempted to identify significant factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. 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. Therefore, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update forward-looking information except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.