Emerita Resources Secures $5 Million in Funding

Emerita Resources (TSE:EMO) has released an update.

Emerita Resources Corp. has successfully completed a non-brokered private placement, raising $5 million through the sale of 12.5 million units at $0.40 each, with each unit including a share and a purchase warrant. These funds are earmarked for further exploration and development of the company’s mineral properties in Spain, as well as for general corporate purposes. The transaction, which is subject to TSX Venture Exchange approval, will see the securities subject to a standard four-month hold period.

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