Emerita Resources To Raise $10.0 Million Via Bought Deal Financing

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.

The offering is slated to close July 15, 2021.

Video originally published April 2, 2021.

Emerita Resources last traded at $1.25 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.

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