On June 13, 2023, Emerita Resources Corp. (TSXV: EMO) announced that it had closed its brokered private placement offering of units at a price of $0.40 per unit for aggregate gross proceeds of $8 million.
Each unit is comprised of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.60 per common share for a period of 36 months following the date hereof.
The offering was led by Clarus Securities Inc., as lead agent, on behalf of a syndicate of agents that included Canaccord Genuity Corp., Desjardins Securities Inc., Stifel Nicolaus Canada Inc., and iA Private Wealth Inc.
The common shares and warrants issued pursuant to the offering will not be subject to a statutory hold period pursuant to applicable Canadian securities laws as the offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions.
Emerita is a natural resource company engaged in the acquisition, exploration, and development of mineral properties in Europe, with a primary focus on exploring in Spain. Emerita's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
Gowling WLG advised Emerita with respect to this offering with a team that included Peter Simeon, Jacob Cawker, Lee Sykes and Matthew Brooker.