Emerita Closes Over Subscribed $20.0 Million Bought Deal Financing

Emerita Resources (TSXV: EMO) has closed its previously announced bought deal private placement lead by Clarus Securities and Research Capital Corporation. The company raised gross proceeds of $20.0 million under the offering, including the full exercise of the over-allotment option.

Originally pegged at $10.0 million, the offering saw strong demand that resulted in the financing being increased to $16.0 million just hours later.

The financing saw a total of 18.2 million units of the company sold at a price of $1.10 per unit. Each unit contained one common share of the company as well as one half of a common share purchase warrant. Each warrant is valid for a period of two years and contains an exercise price of $1.50 per share.

Proceeds from the offering are to be used for the purpose of exploring its properties in Spain, as well as for working capital and general corporate purposes.

Emerita Resources last traded at $1.71 on the TSX Venture.


FULL DISCLOSURE: Emerita Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Emerita Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Emerita Resources Completes 11 Holes At La Infanta, Discovers New Target On Property

Emerita Resources (TSXV: EMO) has provided an update to its ongoing exploration programs at its...

Friday, January 28, 2022, 08:09:51 AM

Emerita Resources Intersects 7.0 Metres Of 0.8% Copper At Romanera

The latest results are in for the ongoing drill program being conducted by Emerita Resources...

Friday, August 5, 2022, 09:21:23 AM

Emerita Resources Sees Criminal Case Related To Aznalcollar Proceed

Emerita Resources (TSXV: EMO) continues to see the court case related to its potential Aznalcollar...

Friday, March 25, 2022, 08:27:26 AM

Emerita Resources: Aznalcóllar Zinc Project Offers Significant Opportunity

Emerita Resources Corp.(TSX-V:EMO), a Canadian natural resource development company, is preparing to commence development on...

Sunday, April 18, 2021, 02:05:00 PM

Emerita Resources: Clarus Initiates Coverage With $4.50 Price Target

Emerita Resources (TSXV: EMO) has seen a second analyst begin covering the equity. This comes...

Wednesday, July 28, 2021, 04:14:00 PM