Emerita Resources Secures $5 Million Investment

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

Emerita Resources Corp. has secured a $5 million investment through a non-brokered private placement, selling 12.5 million units at $0.40 each, to fund the exploration and development of its mineral properties in Spain. Each unit includes a common share and a warrant, with the latter allowing the purchase of an additional share at $0.60 within 36 months. The proceeds will be directed towards their Iberian Belt West Project and general corporate purposes, with the offering expected to close by April 25, 2024.

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