On August 26, Emerita Resources announced the closing of its previously announced brokered private placement, raising C$25.0 million through the issuance of 23.8 million units at C$1.05 each. Concurrently, the company completed an upsized non-brokered private placement of 1.04 million units for C$1.09 million, bringing total gross proceeds to approximately C$26.1 million.

Each unit consists of one common share and half a warrant, with each full warrant exercisable at C$1.30 until August 26, 2027. Net proceeds will be used to advance exploration and development of Emerita’s Spanish mineral properties and for general corporate purposes. The offerings remain subject to final TSX Venture Exchange approval.