Emerita Resources Corp. Announces $8,000,000 Private Placement

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TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSXV: EMO) (the “Company” or “Emerita”) is pleased to announce that it has entered into an agreement with Clarus Securities Inc. as lead agent on behalf of a syndicate of agents (collectively, the “Agents”), whereby the Agent will raise up to $8,000,000 through an offering of up to 20,000,000 units of the Company (the “Units”) to be priced at C$0.40 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “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 completion of the Offering.