Emp Metals Announces Financing of up to $3,000,000
Tel: 604-689-7422 208A - 980 West 1st Street, North Vancouver, BC V7P 3N4
EMP METALS ANNOUNCES FINANCING OF UP TO $3,000,000
Vancouver, British Columbia, February 27, 2023 – EMP Metals Corp. (CSE: EMPS) (OTCQB:
EMPPF) (“EMP Metals” or the “Company”) is pleased to announce a non-brokered private
placement financing of up to 5,000,000 units of the Company (the “Units”) at a price of $0.60 per
Unit for aggregate gross proceeds of up to $3,000,000 (the “Offering”).
Each Unit will consist of one (1) common share of the Company (each a “Common Share”, and
each Common Share comprising part of a Unit being a “Unit Share”) and one-half of one (1/2)
share purchase warrant (each whole share purchase warrant, a “Unit Warrant”), with each Unit
Warrant entitling the holder to purchase one additional Common Share (a ‘Unit Warrant Share”)
at a price of $0.90 per Unit Warrant Share for a period of eighteen months from the date of issue
(the “Expiry Date). EMP Metals has the right to accelerate the Expiry Date if, at any time, the
average closing price of the Common Shares on the principal exchange or market on which the
Common Shares trade is equal to or greater than $1.25 for 10 consecutive trading days (“10-Day
Period”). In the event of acceleration, the Expiry Date will be accelerated to a date that is 30 days
after the Company issues the acceleration notice through a news release, provided that the
acceleration notice is issued within 10 business days after the end of the particular 10-Day Period.
Echelon Capital Markets acted as financial advisor with respect to the private placement.
EMP CEO Rob Gamley commented “We look forward to completing this financing to continue
advancing our lithium brine projects. A NI 43-101 resource report for the Mansur area has now
been expanded to include the Viewfield area and we expect it to be completed shortly. The
Company has also begun working on the Mansur development plan and Preliminary Economic
Assessment ("PEA") which it expects to complete during the second quarter of 2023. I’m also
pleased to report that the Company plans to do additional drilling in the Viewfield area, following
up on the excellent results we have already obtained as we move to completing a second PEA
dedicated to the Viewfield area by the end of the fourth quarter of 2023.”
The Company intends to rely on the listed issuer financing exemption under Part 5A of National
Instrument 45-106 – Prospectus Exemptions for the Offering, and the Unit Shares, Unit Warrants
and Unit Warrant Shares will not be subject to restrictions on resale. There will be an of fering
document related to the Offering that will be available under the Company's profile at
www.sedar.com and at www.empmetals.com. Prospective investors should read this offering
document before making an investment decision.
The net proceeds of the Offering will be used for various work programs, including drilling, annual
concession fees for the Company’s mineral properties and general working capital purposes. The
Company may pay finders a fee in cash and/or share purchase warrants under the Offering.
The Offering is expected to close on or about March 17, 2023.
Tel: 604-689-7422 208A - 980 West 1st Street, North Vancouver, BC V7P 3N4
About EMP Metals
EMP Metals is a Canadian-based exploration company focused on the acquisition and exploration
of mineral projects with significant development potential. Its current portfolio of lithium brine
properties, in partnership with ROK Resources Inc., consists of 37 permits totaling 212,633 acres
(86,050 hectares) of Subsurface Crown Mineral Dispositions in the Williston basin of Southern
Saskatchewan.
For further information: please see Company's website at www.empmetals.com or contact: Rob
Gamley, President & CEO, Phone: 604-689-7422, Email: [email protected]
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance.
EMP Metals cautions that all forward -looking statements are inherently uncertain, and that
actual performance may be affected by a number of material factors, many of which are beyond
EMP Metals' control. Such factors include, among other things: risks and uncertainties relating to
EMP Metals' limit ed operating history, ability to obtain sufficient financing to carry out its
exploration and development objectives on its mineral properties, obtaining the necessary
permits to carry out its activities and the need to comply with environmental and govern mental
regulations. Accordingly, actual and future events, conditions and results may differ materially
from the estimates, beliefs, intentions and expectations expressed or implied in the forward -
looking information. Except as required under applicable s ecurities legislation, EMP Metals
undertakes no obligation to publicly update or revise forward-looking information.
The Canadian Securities Exchange has neither approved nor disapproved the information
contained herein and does not accept responsibility for the adequacy or accuracy of this news
release.