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EMP Metals Corp. (CSE: EMPS,OTC:EMPPF) (OTCQB: EMPPF) ("EMP Metals" or the "Company") is pleased to announce a non-brokered private placement financing of up to 5,000,000 units at a price of $0.40 per Unit, for gross proceeds of up to $2,000,000 (the "Offering").
Each Unit under the Offering will consist of one common share and one share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.60 per share for a period of 24 months from the date of issue.
The proceeds of the Offering will be used for annual concession fees for the Company's mineral properties, possible land acquisitions and general working capital purposes.
The closing of the Offering is subject to certain closing conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange (the "Exchange"). All securities issued will be subject to a statutory and/or Exchange hold period of four months plus one day from closing. The Company may pay finder fees in compliance with applicable securities laws and Exchange policies and subject to the receipt of any necessary regulatory approvals.
The securities to be offered under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About EMP Metals
EMP is a Canadian-based lithium exploration and development company focused on large-scale resources using direct lithium extraction (DLE). EMP currently holds over 205,000 net acres (83,000 hectares) of Subsurface Dispositions and strategic wellbores in Southern Saskatchewan.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. EMP Metals cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond EMP Metals' control. Such factors include, among other things: risks and uncertainties relating to EMP Metals' limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, EMP Metals undertakes no obligation to publicly update or revise forward-looking information.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE EMP Metals Corp.
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