en.Wedoany.com Reported - Canadian lithium exploration and development company EMP Metals Corp. announced on May 28, 2026, that it has completed the first tranche closing of its previously announced non-brokered private placement financing. The first tranche raised gross proceeds of CAD 1,935,500 through the issuance of 3,871,000 units at a price of CAD 0.50 per unit. EMP Metals Corp. is a company headquartered in Vancouver, British Columbia, Canada, focused on the exploration and development of lithium brine resources.

Each unit issued under the offering consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.70 per share, with the warrant being exercisable for a period of one (1) year from the date of issuance. All securities issued are subject to a statutory hold period of four months and one day from the date of closing, in accordance with the policies of the Canadian Securities Exchange (CSE). In connection with the first tranche closing, the company paid total cash fees of CAD 122,557.50 to finders and issued a total of 245,115 finder's warrants. Each finder's warrant is also exercisable at a price of CAD 0.70 per share for a period of one year.

Proceeds from the financing will be used for the development of the company's lithium brine assets in Saskatchewan, Canada, and for general working capital purposes. Concurrent with the closing of the first tranche, and due to strong investor demand, the company has further increased the size of the offering. The company will issue up to an additional 6,000,000 units at the same price of CAD 0.50 per unit, for additional gross proceeds of up to CAD 3,000,000. All other terms of the financing remain unchanged. The final completion of this financing is subject to the satisfaction of certain closing conditions, including obtaining all necessary approvals, including from the Canadian Securities Exchange.

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