Emperor Closes Flow-Through Private Placement
Emperor Closes Flow-Through Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - Emperor Metals Inc. (CSE: AUOZ)
(OTCQB: EMAUF) (FSE: 9NH) ("
Emperor
") is pleased to announce that it has closed its proposed non-
brokered private placement (the "
Offering
"), which it announced on April 27, 2024.
In connection with
the closing, Emperor has issued 2,943,333 flow-through shares (the "
FT Shares
" and each an "
FT
Share
") at a price of $0.267 per FT Share for gross proceeds of $785,869.61.
Each FT Share will
qualify as a "flow-through share" within the meaning of subsection 66(15) of the
Income Tax Act
(Canada).
The gross proceeds from the issuance of the FT Shares will be used to incur eligible "Canadian
exploration expenses" that will qualify as "flow-through mining expenditures," as such terms are defined
in the
Income Tax Act
(Canada), and in addition, with respect to Quebec resident subscribers who
purchase FT Shares who are eligible individuals under the
Taxation Act
(Quebec), the expenditures will
also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within
the meaning of Section 726.4.10 of the
Taxation Act
(Quebec) and for inclusion in the "exploration base
relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the
meaning of Section 726.4.17.2 of the
Taxation Act
(Quebec) (the "
Qualifying Expenditures
").
Further
information on the Company's Duquesne West Gold Project in Quebec, and the 2023 exploration results
is provided in the Company's recent news release dated April 10, 2024 available on SEDAR+, and on
the Company's website (
www.emperormetals.com
).
All Qualifying Expenditures will be renounced in
favour of the subscribers of the FT Shares effective December 31, 2024.
All FT Shares issued will be subject to a four-month hold period.
The Offering is subject to the
acceptance of the Canadian Securities Exchange.
About Emperor Metals Inc.
Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing
high-quality gold properties situated in the Canadian Shield. For more information, please refer to
SEDAR+ (
www.sedarplus.c
a
), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "Alexander Horsley"
Alexander Horsley
, Director
For further information, please contact:
Alexander Horsley
Phone: 778-323-3058
Email:
Website:
www.emperormetals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE
"FORWARD-LOOKING INFORMATION" AND "FORWARD-LOOKING STATEMENTS" WITHIN THE
MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE
STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE
COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET
MANAGEMENT'S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY
BE IDENTIFIED BY SUCH TERMS AS "ANTICIPATES", "BELIEVES", "TARGETS", "ESTIMATES",
"PLANS", "EXPECTS", "MAY", "WILL", "COULD" OR "WOULD".
FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON
CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE
ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE
AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND
AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS,
THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS,
ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY
CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-
LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE
PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH
STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE
DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-
LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE
SECURITIES LAWS.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/208424