EMP Metals closes $2.9 million financing

Canada NewsWire VANCOUVER, BC , June 15, 2026 /CNW/ - EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) ("EMP Metals" or the "Company ") is pleased to announce that it has closed the third and final tranche (the "Third Tranche") of its previously announced non-brokered private placement financing (the "Offering", see news release dated May 12, 2026, May 25, 2026 and May 27, 2026), by issuing 1,000,000 units ("Units") at $0.50 per Unit for gross proceeds of $500,000. Under the entire Offering, the Company issued a total of 5,879,000 Units for gross proceeds of $2,939,500. Each Unit under the Offering consisted of one common share ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.70 per Share for a period of one (1) year from the date of issue.

All securities issued will be subject to a statutory hold period of four months plus one day from closing and the hold period contemplated in Canadian Securities Exchange (the "CSE") policies. Pursuant to the investor rights agreement dated October 31, 2023 between EMP Metals and Tembo Capital Holdings UK Ltd. ("Tembo"), Tembo exercised its right to purchase 1,000,000 Units at a price of $0.50 per Unit in order to maintain its partially diluted interest immediately prior to closing of the Offering. Tembo's participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101").

The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the Offering by Tembo and Mr. Gamley will not exceed 25% of the fair market value of the Company's market capitalization. In connection with the Third Tranche, the Company paid finders a cash fee totaling $32,500 and issued a total of 65,000 Warrants (the "Finder's Warrants"). Under the entire Offering, the Company paid finders a total of $168,317.50 cash fee, and issued a total of 336,635 Finder's Warrants.

Each Finder's Warrant is exercisable at $0.70 per Share for a period of one (1) year from the date of issue. The net proceeds of the Offering will be used for the development costs of its Lithium Brine Properties in Saskatchewan and for general working capital purposes. The securities to be offered under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S.

Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Early Warning – Investment by Tembo As described above, Tembo acquired 1,000,000 Units for consideration of $500,000 under the Third Tranche.