Resources Emeritus Declares Simultaneous Stock Offering
Emerita Resources Corp Announces Concurrent Offerings
Emerita Resources Corp., a natural resource company listed on the TSXV, OTCQB, and FSE, has announced a concurrent offering of up to $26,049,975 in gross proceeds. This includes an initial offering of up to 23,809,500 units and a concurrent non-brokered private placement financing of up to 1,000,000 units.
The initial offering is fully subscribed, while the concurrent offering is open to eligible purchasers. Each unit in the concurrent offering costs $1.05 and can raise up to $1,050,000. Each unit consists of one common share and one-half of one Common Share purchase warrant. Each warrant allows the holder to purchase one Common Share at an exercise price of $1.30 for 24 months following the completion of the concurrent offering.
Emerita Resources Corp. is engaged in the acquisition, exploration, and development of mineral properties in Europe, with a primary focus on exploring mineral properties in Spain. The aggregate net proceeds of the initial offering and the concurrent offering will be used for exploration and development work on its Spanish mineral properties, as well as general corporate and working capital purposes.
A large shareholder of Emerita has agreed to subscribe for the concurrent offering. The institution supporting the company in the privately placed offer of up to 1,000,000 shares is Eric Sprott, through his holding company 2176423 Ontario Ltd.
The press release contains forward-looking statements about the initial offering, the concurrent offering, and the company's future plans. It is important to note that these statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Emerita to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
The securities being offered are not registered under the United States Securities Act of 1933 and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons. The securities to be issued pursuant to the concurrent offering to purchasers outside of Canada are not expected to be subject to a four-month hold period in Canada.
For further information, please contact Ian Parkinson. The administrative office is located in Toronto, Canada, while the corporate office and technical team are based in Sevilla, Spain. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The closing date for the concurrent offering is scheduled for August 26, 2025, and is subject to certain conditions, including the approval of the TSX Venture Exchange. A cautionary note is included regarding forward-looking information. The units pursuant to the concurrent offering will be offered to purchasers outside of Canada under an exemption from the prospectus requirements.
Investors are advised to do their due diligence and consult with their financial advisors before making any investment decisions.
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