Emperor Closes Second Tranche of Private Placement
Emperor Closes Second Tranche of Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2023) - Emperor Metals Inc. (CSE: AUOZ) (OTC
Pink: EMAUF) (FSE: 9NH) ("
Emperor
") is pleased to announce that it has closed the second and final
tranche of a non-brokered private placement financing.
The second tranche consisted of 143,750 flow-through shares (the "
FT Shares
") at a price of $0.16 per
FT Share and 591,667 non flow-through units (the "
Units
") at a price of $0.12 per Unit, for total gross
proceeds of $94,000.12.
Each Unit consisted of one (1) common share and one-half of one share
purchase warrant (the "
Warrant
").
Each whole Warrant entitles the holder to purchase one (1) common
share of the Company at an exercise price of $0.20 per common share until July 11, 2025.
In connection with the sale of these FT Shares and Units, Emperor also paid a total of $840 in cash and
issued 6,000 finder's warrants ("
Finder's Warrants
") to an eligible finder for certain of the FT Shares
and Units sold.
Each Finder's Warrant will entitle the holder to purchase one (1) common share of the
Company at an exercise price of $0.20 until July 11, 2025.
All securities issued are subject to a hold period until November 12, 2023.
The gross proceeds from the sale of all 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) (the "
Qualifying Expenditures
") related to the Company's Duquesne West
Gold Project located in Quebec, Canada. All Qualifying Expenditures will be renounced in favour of the
subscribers of the FT Shares effective December 31, 2023.
Subscribers resident in the Province of
Quebec may also qualify for additional provincial tax credits.
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.sedar.com
), 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
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE
CONTENT OF THIS PRESS RELEASE
This news release may contain certain "forward looking statements". Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors that may cause the actual
results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. Any forward-
looking statement speaks only as of the date of this news release and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or otherwise.
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES.
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https://www.newsfilecorp.com/release/173169