EMERITA RESOURCES INCREASES PRIVATE PLACEMENT FINANCING TO $1,227,575

Download PDF
28/10/2015 12:45 Emerita Resources EMERITA RESOURCES INCREASES PRIVATE PLACEMENT FINANCING TO $1,227,575

EMERITA RESOURCES INCREASES PRIVATE
PLACEMENT FINANCING TO $1,227,575

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario, August 13th, 2014 – Emerita Resources Corp. (TSX-V: EMO)(the “Company” or “Emerita”) has increased the size of its previously announced non-brokered private placement financing due to demand from investors in Spain (see press release dated July 28, 2014). Emerita intends to issue up to 12,275,750 common shares (the “Common Shares”) at a price of $0.10 per Common Share for gross proceeds of up to $1,227,575 (the “Offering”).

Pursuant to the Offering, Millennium Insurance Company Limited, part of the Morera & Vallejo Business Group (“M&V”), has agreed to purchase 4,396,500 Common Shares for a total purchase price of $439,650, AGQ Labs & Technological Services (“AGQ”) has agreed to purchase 3,663,750 Common Shares for a total purchase price of $366,375 and members of the management teams of Forbes & Manhattan, Inc. (“Forbes & Manhattan”) and Emerita have agreed to purchase collectively 2,750,000 Common Shares for a total purchase price of $275,000.

M&V is a diversified holding company headquartered in Sevilla, Spain owning interests in more than 30 companies in the insurance, consulting, investments, real estate, industrial, agribusiness, biotechnology, environment, leisure, sports, health and media sectors. For additional information, please see M&V’s website at www.grupomorerayvallejo.es/.

AGQ is a technological centre based in Sevilla, Spain and operating in more than 20 countries, with labs in Chile, Peru, the United States, Spain and Morocco. AGQ provides global solutions and value added services to the agro food, environmental, industrial and mining sectors through their technical specialization, experience and technological capacity. For additional information, please see AGQ’s website at www.agq.com.es/en.

Forbes & Manhattan is a leading private merchant bank with a global focus on the resource-based sectors. Forbes & Manhattan is headquartered in Toronto, Canada with offices, operations and assets across the globe. Forbes & Manhattan has a successful track record of identifying high quality assets and advancing them from discovery through to production. For additional information, please see Forbes & Manhattan’s website at www.forbesmanhattan.com.

The closing date of the Offering is expected to occur on or about August 15, 2014. The Common Shares will be subject to a hold period of four months and one day. Completion of the Offering is subject to a number of conditions, including TSX Venture Exchange approval.

The proceeds of the Offering will be used to fund exploration activities of the Company with respect to the Company’s mineral properties in Spain and for general corporate purposes.

Upon the closing of the Offering, Emerita may pay fees to eligible finders in accordance with the policies of the TSX Venture Exchange in cash, warrants or a combination thereof.

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)
info@emeritagold.com

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 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, 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 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 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.