- Emerita Resources (EMO) has increased its bought-deal financing from C$10 million to $16 million due to strong demand
- The company plans to use the proceeds for working capital requirements and general corporate purposes
- The offering is scheduled to close on or about July 15, 2021
- Emerita is a Canadian natural resource company focused on mineral properties in Spain
- Emerita Resources (EMO) is trading flat at $1.25 per share
Emerita Resources (EMO) has increased its bought-deal financing from C$10 million to $16 million due to strong demand.
The company will offer 14,546,000 units on a private placement basis at a price of $1.10 per unit for gross proceeds of $16,000,600.
Each unit is comprised of one Emerita common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to purchase one Emerita common share for $1.50 for 24 months following the closing date.
Emerita plans to use the proceeds for working capital requirements and general corporate purposes.
The offering is scheduled to close on or about July 15, 2021.
Clarus Securities and Research Capital Corporation are serving as co-lead underwriters and joint bookrunners.
Emerita is a Canadian natural resource company focused on mineral properties in Spain.
Emerita Resources (EMO) is trading flat at $1.25 per share as of 1:08 pm ET.
