Emerita Resources (TSXV: EMO) is capitalizing on recent strength in the market. The company this morning announced that it will be conducting a bought deal financing, lead by Clarus Securities and Research Capital Corporation, for gross proceeds of $10.0 million.
Under the terms of the financing, the company will look to sell a total of 9.1 million units at a price of $1.10 per each. No warrant was indicated as being included in the offering. An over-allotment option has also been granted in connection with the financing, which if exercised would bring in an additional $1.5 million in gross proceeds.
Proceeds from the financing are to be used for working capital requirements and general corporate purposes.
Sponsored · Cambria Gold Mines
The offering is slated to close July 15, 2021.
Emerita Resources last traded at $1.25 on the TSX Venture.
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