Emergent Metals closes $551,021 private placement

Executive Summary

• Emergent Metals Corp. has closed an oversubscribed, non-brokered private placement, issuing over 11 million units for gross proceeds of approximately $551,000.
• The transaction includes significant insider participation (1.6 million units), which is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
• Net proceeds are designated for general working capital, and the securities are subject to a statutory hold period of four months and one day.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 11,020,420 units.
• Price Per Unit: $0.05 CAD.
• Gross Proceeds: $551,021.
• Unit Composition: Each unit consists of one common share and one whole transferable common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.10 per share.
  • Expiration Date: January 15, 2028 (24 months from issuance).
• Insider Participation: Insiders acquired 1,600,000 units.
• Regulatory Exemption: The insider participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because neither the fair market value of the units acquired nor the consideration paid exceeds 25% of the company's market capitalization.
• Use of Proceeds: General working capital purposes.
• Finders' Fees: No finders' fees paid for subscriptions introduced to the offering.
• Regulatory Approval: Subject to final approval of the TSX Venture Exchange.
• Hold Period: Securities and underlying shares are subject to a statutory hold period expiring four months and one day from the date of issuance.

Notable Quotes

• None provided in the text.