Empire Metals Corp. announced a private placement of 12,222,222 units at an issue price of CAD 0.09 for gross proceeds of CAD 1,099,999.98 on February 2, 2023. Each unit consists of one common share and one transferable warrant, each such warrant entitling the holder to purchase one additional share at a price of CAD 0.09 per share for five years.

A portion of the financing is on a flow-through basis. Units will entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). A finder's fee may be paid on a portion of the financing.

The financing is subject to acceptance for filing by the TSX Venture Exchange.