Emerita Resources Announces Upsizing of Private Placement Financing
EMERITA RESOURCES ANNOUNCES UPSIZING OF PRIVATE PLACEMENT
FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
Toronto, ON – November 25, 2020 – Emerita Resources Corp. (“Emerita” or the “Company”) (TSXV: EMO)
is pleased to announce that due to investor demand, the Company is increasing its previously announced
private placement from total gross proceeds of up to $2.5 million to total gross proceeds of up to $4. 5 million
(the “Offering”). The Offering will now consist of up to 3 2,142,857 units of the Company (the “ Units”) at a
price of $0.14 per Unit (the “Offering Price”). Mackie Research Capital Corporation is co-lead agent and sole
bookrunner, along with Clarus Securities Inc. as co-lead agent, Industrial Alliance Financial Group is also part
of the syndicate (collectively, the “Agents”) in connection with the Offering.
The Agents will have an option (the “Agent’s Option”) to offer for sale up to an additional 15% of the number
of Units sold in the Offering at the Offering Price, which Agent’s Option is exercisable, in whole or in part, at
any time up to 48 hours prior to the closing of the Offering. Please see the Company’s press releases dated
November 23, 2020 for further details about the Offering.
The Offering is scheduled to close on or about the week of December 7, 2020 (the “Closing”) and is subject
to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval
of the TSX Venture Exchange. The Units to be issued under the Offering will have a hold period of four months
and one day from Closing.
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) 566-8179 (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 Offering, the use
of proceeds of the Offering , the expected drill program at the Iberian Belt West Project , the prospectivity of
Iberian Belt West Project and the Company’s future plans. 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, as the case may be, 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 jur isdictions; 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 materi ally 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 results 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.
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.