-- Denarius Metals Corp. announced Tuesday that it is increasing its previous proposal to acquire all of the issued and outstanding common shares of Emerita Resources Corp. (EMO.V) to CA$0.45 per share under an all-share transaction, representing an approximate 73% premium to Emerita's closing share price on the TSX Venture Exchange on April 10, 2026.
A statement noted the increased proposal values Emerita at approximately C$133.48 million based on its current issued and outstanding common shares. As of yesterday's close, this offer would result in Denarius Metals issuing approximately 150 million shares at an estimated exchange rate of 0.506 Denarius Metals' share for each Emerita share issued and outstanding as of that date, the statement noted.
Denarius Metals said it is "ready to engage promptly with Emerita's board and management to finalize terms and believes Emerita shareholders deserve the opportunity to evaluate the increased proposal without undue delay".
The company added it "encourages" Emerita shareholders to carefully consider the increased Proposal in light of current market conditions, recent events, and the significant premium being offered relative to Emerita's recent trading levels.
Shares in EMO rose $0.045 or near 13% at $0.395.