EMP METALS CORP. EMP Metals Corp. announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.60 per share for gross proceeds of up to CAD 3,000,000 on February 27, 2023. Each unit consist of one common share and one half common share purchase warrant.
Each warrant entitles the holder to purchase one common share for CAD 0.90 for a period of eighteen months from the date of issuance. The company has the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the its common shares is equal to or greater than CAD 1.25 for 10 consecutive trading days. The company may pay finders a fee in cash and/or share purchase warrants under the transaction.
The transaction is expected to close on or about March 17, 2023.
