Emerita closes $24.99-million private placement

Executive Summary

• Emerita Resources Corp. closed a brokered private placement of 23,809,500 units at $1.05 per unit, generating gross proceeds of C$24,999,975.
• Simultaneously, the company closed an upsized non‑brokered private placement of 1.04 million units for gross proceeds of C$1,092,000.
• Net proceeds will fund exploration and development of Spanish mineral properties and support general corporate and working‑capital needs.

Key Details

• Brokered Private Placement
• Units issued: 23,809,500
• Offering price: $1.05 per unit
• Gross proceeds: C$24,999,975 (≈ US$25 M)
• Lead agents/bookrunners: Clarus Securities Inc., Velocity Trade Capital Ltd.; syndicate included Canaccord Genuity Corp., iA Private Wealth Inc.

• Agent compensation: cash commission of $1,727,213.25 plus 1,644,965 non‑transferable compensation options (each option = one common share at the offering price until Aug 26 2027).

• Non‑Brokered Private Placement

• Units issued: 1,040,000
• Offering price: $1.05 per unit (upsized)
• Gross proceeds: C$1,092,000

• No finders’ fees paid.

• Unit Composition

• Each unit = one common share + one‑half of a common‑share purchase warrant.

• Warrants allow purchase of an additional common share at $1.30 per share, exercisable until Aug 26 2027.

• Regulatory Framework

• Brokered units sold under the listed issuer financing exemption (NI 45‑106) across Canada (excluding Quebec) and U.S. securities law exemptions; no statutory hold period.

• Non‑brokered units subject to a four‑month‑plus statutory hold period, except for securities issued under Ontario Securities Commission Rule 72‑503.

• Use of Proceeds

• Continue exploration and development on Spanish mineral properties.

• General corporate purposes and working capital.

• Closing Conditions

• Offerings remain subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were provided in the release.)