EMERGENT METALS CLOSES FLOW THROUGH PRIVATE PLACEMENT
Vancouver, British Columbia — December 20, 2023 — Emergent Metals Corp. (“Emergent” or the “Company”) (TSX Venture Exchange: EMR) announces it has closed a non-brokered flow through private placement (the “Offering“) and issued 2,900,000 flow-through common shares in the capital of the Company (“Shares“) at a price of CDN$0.14 per Share for gross proceeds of CDN$406,000. Emergent intends to use the net proceeds of the Offering for qualifying exploration of Emergent’s properties in Quebec.
The Company will pay aggregate finder’s fees of CDN$32,480 and issue 232,000 share purchase (the “Finder’s Warrants) in connection with subscriptions from subscribers introduced to the Offering by qualified Finders. Each Finder’s Warrant is exercisable to acquire one common share in the capital of the Company at an exercise price of CDN$0.14 per common share until December 20, 2025, which is 24 months from the date of issuance.
The Offering remains subject to final approval of the TSX Venture Exchange. The securities issued under the Offering will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.
Emergent is a gold and base metal exploration company focused on Nevada and Quebec. The Company’s strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders (an acquisition and divestiture business model).
In Nevada, Emergent’s Golden Arrow Property is an advanced stage property with a well-defined measured and indicated gold and silver resource. The New York Canyon Property is a copper skarn, copper porphyry, and gold exploration property south of and abutting the past producing Santa Fe Gold Mine. The Mindora Property (aka West Santa Fe Property) is a gold, silver, and base metal property located twelve miles from the Santa Fe Gold Mine and optioned to Lahontan Gold Corporation (TSXV:LG). Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operators of the Rawhide Mine.
In Quebec, the Casa South Property is a large gold exploration property adjacent to and south of Hecla Mining Corporation’s (NYSE:HL) operating Casa Berardi Mine with multiple exploration targets identified. The Trecesson Property, located about 50 km north of the Val d’Or mining camp, has three gold exploration targets with multiple high-grade (>10 g/t) gold intercepts from historic and recent drilling. Also in Quebec, Emergent has a 1% NSR in the Troilus North Property, part of the feasibility stage Troilus Mine Property being explored by Troilus Gold. Emergent also has a 1% NSR in the East-West Property, owned by O3 Mining and part of their feasibility stage Marban Alliance Property.
Note that the location of Emergent’s properties adjacent to producing or past producing mines does not guarantee exploration success at Emergent’s properties or that mineral resources or reserves will be delineated. For more information on the Company, investors should review the Company’s website at www.emergentmetals.com or view the Company’s filings available at www.sedarplus.ca.
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.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note on Forward-Looking Statements
Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking information. Forward looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company’s profile and on the Company’s website at www.emergentmetals.com. The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.