EMP METALS CLOSES OVERSUBSCRIBED FINANCING

Executive Summary

• EMP Metals Corp. closed its non‑brokered private placement, issuing 5,250,000 units at $0.40 per unit for gross proceeds of $2.1 million.
• The offering included one common share and one warrant per unit (exercise price $0.60, 24‑month term); a total of 298,500 “Finder’s Warrants” were also issued.
• Proceeds will be used to fund development costs of EMP’s lithium brine properties in Saskatchewan and for general working capital.

Key Details

• Units Issued: 5,250,000 at $0.40 per unit → Gross proceeds: $2,100,000.
• Unit Composition: 1 common share + 1 share purchase warrant (exercise price $0.60, exercisable for 24 months).
• Related Party Participation:
• Tembo Capital Holdings UK Ltd. purchased 1,000,000 units ($400,000) under its investor rights agreement.
• Rob Gamley subscribed for 50,000 units.
• Temco Ownership Impact:
• Pre‑closing: ~16.56 % non‑diluted, ~20.55 % partially diluted share ownership.
• Post‑closing: ~19.63 % non‑diluted, ~21.13 % partially diluted share ownership (including warrant exercise).
• Finder Compensation: Cash fee of $119,400 paid; 298,500 Finder’s Warrants issued (same terms as unit warrants).
• Statutory Hold Period: All securities subject to a four‑month plus one day hold period from closing.
• Use of Proceeds: Development of lithium brine properties in Saskatchewan and general working capital.
• Exemptions & Restrictions: Securities not registered under the U.S. Securities Act; cannot be offered/sold to U.S. persons absent exemption.

Notable Quotes

(No direct quotes were provided in the release.)