Emerita Resources Corp entered into binding subscription agreements of non brokered private placement financing of 12,500,000 Units at CAD 0.40 per Unit for gross proceeds of CAD 5,000,000 on April 18, 2024. The transaction includes participation from 4 investors. Each Unit will be comprised of one common share in the capital of the Company and one Common Share purchase warrant.

Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD 0.60 per Common Share for a period of 36 months following the completion of the Offering. Securities issued under the Offering are expected to carry a hold period of 4 months and one day from the date of issue as may be required under applicable securities laws. The Offering is scheduled to close on or about April 25, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

No finder fees were paid by the Company in connection with the Offering and the Company does not intend to increase the size of the Offering.