Emperor launches Private Placement and Strategic Investor
Emperor Metals Inc. proposes to complete a non-brokered private placement financing of up to 10,000,000 units ("Units") at a price of $0.15 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one (1) common share (a "Share") and one-half (1/2) of a common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one (1) additional Share of Emperor at an exercise price of $0.35 for a period of two years from the date or dates of closing of the Offering (a "Closing Date"), provided that if the closing market price for Emperor's common shares is equal to or greater than $0.50 per share for a period of ten (10) consecutive trading days at any point in time after the first 4 months of the Term, then Emperor may deliver a notice (the "Notice") via widely disseminated press release, that the Warrants must be exercised within thirty (30) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (MT) on the thirty-first (31st) day after the date of delivery of the Notice. The gross proceeds from the sale of the Units will be utilized to fund exploration and development of Emperor's projects, and for general working capital.
Emperor may pay finder's fees to arm's length finders (each a "Finder") in connection with this placement, which are expected to be up to 6.0% of the gross proceeds raised by such Finder, in cash, and non-transferable share purchase warrants, on the same as the Warrants, to acquire common shares of Emperor of up to 6.0% of the number of Units sold to a purchaser or purchasers introduced by the Finder(s). The Offering is subject to the approval of the Canadian Securities Exchange ("CSE") and any finder's fees payable will be issued in accordance with the policies of the CSE and applicable securities laws. All securities issued will be subject to a four-month and one day hold period.
Evanachan Limited ("EL"), a private company controlled by Robert McEwen, will acquire 5,000,000 Units under the Offering, representing 50% of the total Offering. The Units are being acquired by EL for long-term investment purposes. EL may acquire additional securities of Emperor, including on the open market or through private acquisitions, or sell securities of Emperor in accordance with applicable securities laws, including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans, and/or other factors that EL considers relevant from time to time.
"I am pleased with the progress Emperor Metals has made on the Duquesne West Gold Project and the recent acquisition of the Lac Pelletier project. The company's innovative use of AI and machine learning for project evaluation and resource modeling is truly unique, and I am excited to see how these advancements will drive future growth." - Rob McEwen.
About Emperor Metals Inc.
Emperor Metals Inc. is a high-grade gold exploration and development junior mining company focused on Quebec's Southern Abitibi Greenstone Belt and leveraging AI-driven exploration techniques. Emperor is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district.
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