Emergent Provides Update on Private Placement

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VANCOUVER, BC / ACCESSWIRE / September 8, 2023 / Emergent Metals Corp. ("Emergent" or the "Company") (TSXV:EMR) announces that it has repriced its non-brokered private placement (the "Offering") previously announced on July 25, 2023. The Company now plans to issue up to 15,000,000 units (the "Units") at a price of CDN$0.10 per Unit to raise gross proceeds of up to CDN$1,500,000. Each Unit will consist 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 will be exercisable to acquire one Share at an exercise price of CDN$0.12 per Share for a period of 24 months from the date of issuance. The Offering is subject to a minimum subscription amount of CDN$5,000.

Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement would constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization.

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 Company may pay finder's fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation. Closing of the Offering is subject to approval of the TSX Venture Exchange. 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.