Emergent Closes Private Placement

Rhea-AI Summary

Emergent Metals Corp. completes non-brokered private placement, raising CDN $168,000 for exploration and working capital purposes.

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• Emergent Metals Corp. completes non-brokered private placement, raising CDN $168,000 for exploration and working capital purposes.

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• None.

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

VANCOUVER, BC / ACCESSWIRE / October 23, 2023 / Emergent Metals Corp. ("Emergent" or the "Company") (TSX Venture Exchange:EMR) announces that it has completed a non-brokered private placement (the "Offering") described in its news releases dated July 25, 2023 and September 8, 2023. In connection with the closing of the Offering, the Company issued an aggregate of 1,680,000 units (the "Units") at a price of CDN $0.10 per Unit for gross proceeds of CDN$168,000. Each Unit consists of one common share in the capital of the Company (a "Share") and one whole non-transferable common share purchase warrant(a "Warrant"). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.12per Share until October 23, 2025, which is 24 months from the date of issuance.

Emergent intends to use the net proceeds of the Offering for exploration of Emergent's properties (including property and claims maintenance payments), for property acquisition, and for general working capital purposes. The Offering remains subject to final approval of the TSX Venture Exchange.

The Company will pay aggregate finder's fees of CDN$3,360 and 33,600 share purchase warrants (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 Share in the capital of the Company at an exercise price of CDN$0.12 per Share until October 23, 2025, which is 24 months from the date of issuance.

The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

About Emergent

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 (acquisition and divestiture (A&D) business model). Successful divestitures include the sale of the Troilus North Property to Troilus Gold Corporation (TSX:TLG), sale of the East-West Property to O3 Mining Corporation (TSXV:OIII) and option of the Mindora (aka West Santa Fe Property) to Lahontan Gold Corporation (TSXV:LG).

In Nevada, Emergent's Golden Arrow Property, is an advanced stage gold and silver property with a well-defined measured and indicated resource, 2018 Technical Report, and Plan of Operations and Environmental Assessment in place to allow a major drilling program, subject to financing. New York Canyon is a copper skarn, copper porphyry, and gold exploration property south of and abutting the past producing Santa Fe Gold Mine, being advanced by Lahontan Gold. The Mindora Property is a gold, silver, and base metal property located twelve miles from the Santa Fe Gold Mine and under option to Lahontan Gold. 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 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 two major 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: info@emergentmetals.com

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.

SOURCE: Emergent

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FAQ

What is the purpose of Emergent Metals Corp.'s private placement?

The purpose of Emergent Metals Corp.'s private placement is to raise funds for exploration of properties, property acquisition, and general working capital purposes.

How much did Emergent Metals Corp. raise in the private placement?

Emergent Metals Corp. raised CDN $168,000 in the private placement.

What is the exercise price of the common share purchase warrants?

The exercise price of the common share purchase warrants is CDN $0.12 per Share until October 23, 2025.

What is the statutory hold period for the securities issued under the Offering?

The statutory hold period for the securities issued under the Offering is four months and one day from the date of issuance.