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EMP Metals Corp. (CSE: EMPS,OTC:EMPPF) (OTCQB: EMPPF) ("EMP Metals" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement financing (the "First Tranche", see news release dated May 12 and May 25, 2026), by issuing 3,871,000 units ("Units) at $0.50 per Unit for gross proceeds of $1,935,500 (the "Offering").
Each Unit under the Offering will consist of one common share ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.70 per Share for a period of one (1) year from the date of issue.
All securities issued will be subject to a statutory hold period of four months plus one day from closing and the hold period contemplated in Canadian Securities Exchange (the "CSE") policies.
In connection with the First Tranche, the Company paid finders a cash fee totaling $122,557.50 and issued a total of 245,115 Warrants (the "Finder's Warrants"). Each Finder's Warrant is exercisable at $0.70 per Share for a period of one (1) year from the date of issue.
The proceeds of the Offering will be used for the development costs of its Lithium Brine Properties in Saskatchewan and for general working capital purposes.
Further Upsize of Financing
Concurrent with the closing of the First Tranche and due to strong investor demand, the Company has further increased the size of the Offering. The Company will now issue up to 6,000,000 Units at a price of $0.50 per Unit for gross proceeds of up to $3,000,000. All other terms of the Offering remain unchanged.
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 CSE.
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.
For more information, please go to the Company's website at www.empmetals.com
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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