Navigating the Financing Landscape: Emerita Resources Secures Lifeline for Iberian Belt West ProjectEmerita Resources Corp., a Canadian-based natural resource company focused on exploration and development in Europe, has announced a significant financing agreement with Nebari Natural Resources Credit Fund II, LP. The agreement will provide Emerita with up to million in non-dilutive capital, enabling the company to maintain momentum in advancing its wholly-owned Iberian Belt West (IBW) Project in Spain.## Securing a Lifeline in Challenging TimesEmerita's Chief Executive Officer, David Gower, expressed his enthusiasm about the transaction, stating that it will give the company access to much-needed capital in a difficult equity market for resource companies. The financing will allow Emerita to continue its exploration and development activities at the IBW Project without diluting its existing shareholder base.### Flexible Funding StructureThe credit agreement with Nebari Natural Resources Credit Fund II, LP is structured in three tranches, providing Emerita with the flexibility to draw down funds as needed. The first tranche of million is immediately available, while the second and third tranches of .5 million each can be accessed at the company's discretion, subject to meeting certain conditions.### Advancing the IBW ProjectThe proceeds from the loan will be used by Emerita to fund various aspects of the IBW Project, including exploration and geological drilling, advancement of study work, and environmental permitting. The company is confident that it can maintain the momentum in developing this key asset, which it believes will add value for its shareholders.### Leveraging Expertise and ExperienceSteven Bowles, the Managing Director of the Lender, expressed Nebari's excitement about partnering with Emerita Resources. He highlighted the experience and professionalism of Emerita's team, as well as the IBW project team, and expressed confidence in their ability to continue unlocking value at the IBW Project and beyond.### Navigating the Regulatory LandscapeThe granting of the loan and the issuance of the loan bonus warrants are subject to the approval of the TSX Venture Exchange (TSXV). Upon receiving final acceptance from the TSXV, Emerita will issue 9,963,636 loan bonus warrants at an exercise price of {{royaItemContent}}.825 per common share, with a four-year expiration date.### Securing the LoanThe loan will be initially secured by a pledge of 100% of the shares of Emerita's wholly-owned Spanish subsidiary, Emerita Resources Espana SL. Upon receipt of an exploitation concession for the IBW Project, the share pledge will be cancelled, and the loan will be secured by a first lien on the project's assets and a first priority mortgage on the related real property and mining claims.### Weathering the StormIn a challenging equity market, Emerita's ability to secure this non-dilutive financing from Nebari Natural Resources Credit Fund II, LP provides a crucial lifeline for the company's efforts to advance the IBW Project. By leveraging its expertise and experience, Emerita is positioning itself to weather the current market conditions and continue delivering value for its shareholders.
