Emerita Resources (TSE:EMO) has released an update.
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Emerita Resources has secured USD$6 million from the first tranche of its credit facility with Nebari Natural Resources Credit Fund II, LP, which will be used for working capital, exploration, and development activities at its Iberian Belt West Project. In association with this funding, the company has issued nearly 10 million warrants to an affiliate of the lender, allowing for share purchases at a premium until 2028.
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