EMP upsizes lithium financing to $5 million CanadiansInvest
-CSE] on Monday said it is upsizing a previously announced non-brokered private placement financing, which is now expected to raise $5 million, up from an earlier $3 million target.
EMP can accelerate the expiry date is the closing price of the shares is equal to or greater than $1.25 for 10 consecutive trading days. In the event of an acceleration, the expiry date will be accelerated to a date that is 30 days after the company issues the acceleration notice via a press release.
In a press release on February 21, 2023, EMP announced a successful drilling and multi-layer perforation and swap test of a wellbore on the HLC’s subsurface mineral dispositions located in the Viewfield area of Saskatchewan. “The results of the Viewfield 2-22 well are nothing short of incredible,’’ said EMP CEO Rob Gamley. The elevated lithium concentrations and high flow rates across six zones makes this a very exciting lithium brine well for our joint venture and for lithium exploration and development in Canada,’’ he said.
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