Emerita Closes Oversubscribed Private Placement Financing
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
28583052.2
EMERITA CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, December 20, 2017 – Emerita Resources Corp. (TSX -V: EMO) (the
“Company” or “Emerita”) is pleased to announce the closing , on an oversubscribed basis, of its
previously announced private placement financing (the “Offering” ) compris ed of 42,426,000 units
(the “Units”) at a purchase price of $0. 10 per Unit for gross proceeds of $ 4,242,600. The Offering
was oversubscribed by $242,600.
Each Unit is comprised of one common share of Emerita (each a “ Common Share”) and one-half of
one Common Share purchase warrant (each wh ole warrant, a “ Warrant”). Each Warrant entitles the
holder to acquire one Common Share at a price of $0.20 for a period of 24 months following the
closing date of the Offering.
The proceeds of the Offering will be used to close the acquisition of the Salobro zinc project in
Brazil, to commence the exploration programs on the Plaza Norte zinc project in the Riocin mining
camp in Cantabria, northern Spain, and the Salobro zinc project as well as for general corporate
purposes.
Mackie Research Capital Corporation (“Mackie”) acted as sole bookrunner and agent and offered the
Units for sale on a “best efforts” private placement basis. As consideration for their services provided
in connection with the Offering, the Company has (i) paid Mackie a cash commission of $209,709.50,
and (ii) issued to Mackie 2,097,095 broker options (the “ Broker Options”). Each Broker Option is
exercisable at a price of $0.10 per Broker Option into one Unit for a period of 24 months following
the date hereof.
All of the securities issued by the Company pursuant to the Offering will be subject to a four month
statutory hold period which expires on April 21, 2018.
Certain insiders of the Company have subscribed for Units pursuant to the Offering (the “Insider
Participation”). The Insider Participation will be considered to be a “related party transaction” as
defined under Multilateral Instrument 61- 101 (“MI 61- 101”). The Insider Participation is exempt
from the formal valuation and minority shareholder approval requirements of MI 61-101.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
28583052.2
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and development of
mineral properties in Europe, with a primary focus on exploring in Spain. The Company’s corporate
office and technical team are based in Sevilla, Spain with an administrative office in Toronto,
Canada.
For further information, contact:
Helia Bento
+1 416 309 4293 (Toronto)
Joaquin Merino
+34 (628) 1754 66 (Spain)
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding
the Company’s ability to complete the acquisition of the Salobro project, completion of the Offering
and the use of proceeds from the Offering . Generally, forward-looking information can be identified
by the use of forward- looking terminology such as “plans”, “expects” or “does not expect ”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events
or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-
looking information is subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of Emerita to be materially
different from those expressed or implied by such forward- looking information, including but not
limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual
results of current exploration activities; risks associated with operation in foreign jurisdictions; ability
to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in
the mining industry. Although Emerita has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward -looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual resul ts and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward -looking information. Emerita does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
28583052.2
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.