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Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV:EMO) (OTCQB:EMOTF) (FSE:LLJA) is pleased to announce that due to investor demand, the previously announced brokered offering of up to 23,809,500 units of the Company (the " Initial Offering "), is fully subscribed and that the Company is announcing a concurrent non-brokered private placement financing of up to 1,000,000 units (each, a " Unit ") at a price of $1.05 per unit (each, a " Unit ") for gross proceeds of up to $1,050,000 (the " Concurrent Offering " and together with the Initial Offering, the " Offerings "). The aggregate maximum gross proceeds of the Offerings is $26,049,975.
An existing large shareholder of Emerita has agreed to subscribe for the Concurrent Offering.
Each Unit will consist of one common share in the capital of the Company (each, a " 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 $1.30 for 24 months following the completion of the Concurrent Offering. The Units pursuant to the Concurrent Offering will be offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under OSC Rule 72-503 – Distributions Outside Canada and, accordingly, 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.
The aggregate net proceeds of the Initial Offering and the Concurrent Offering will be used by the Company to continue the exploration and development work on its Spanish mineral properties as well as general corporate and working capital purposes.
The Concurrent Offering is scheduled to close on or about August 26, 2025 (the " Closing Date ") and is subject to certain conditions, including but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Emerita Resources Corp .
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. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
For further information, contact:
Ian Parkinson
+1 647 910-2500 (Toronto)
info@emeritaresources.com
www.emeritaresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Initial Offering and the Concurrent Offering, the use of proceeds of the Initial Offering and the Concurrent Offering and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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