Adamera Minerals Announces Private Placement Financing
14 Mars 2014 - 9:33PM
Access Wire
Vancouver, BC / ACCESSWIRE / March 14, 2014 / Adamera Minerals Corp. (TSX V:ADZ)
announces that it has arranged a
non-brokered private placement of up to
6,285,713 units priced at
$0.07 per share, for total gross proceeds of up to $440,000.
Each unit will consist of one common share and one share
purchase warrant. Each such share purchase warrant will be
exercisable into one common share for a period of three years from
closing at a price of $0.12 cents per share.
Net
proceeds of the offering will be used for exploration activities
such as drilling and trenching on the Company's projects and for
Company operations.
The private placement
is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval and
acceptance by the TSX Venture Exchange. All securities to be issued
pursuant to the private placement will be subject to a four-month
hold period.
In addition, 739,298 common shares to settle outstanding debt have
been issued. These securities have a hold period
expiring July 12, 2014.
About Adamera
Adamera is exploring for
high-grade gold near an operating mill in Washington State owned by
Kinross Gold Corp. The mill is reported to be operating at half
capacity with ore shipped 70 kilometres from the 1.3 million ounce
Buckhorn mine. The Buckhorn mine is a high grade; low cost producer
with only 2 years mine-life remaining. Adamera is currently
exploring five projects with high-grade gold potential within
hauling distance of the Mill.
On
behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please
contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 484-7120
Fax: (604) 484-7143
Email: info@Adamera.com
Website: www.Adamera.com
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release. Statements in this press release, other
than purely historical information, including statements relating
to the Company's future plans and objectives or expected results,
may include forward-looking statements. Forward-looking statements
are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in resource exploration and
development. As a result, actual results may vary materially from
those described in the forward-looking
statements.
Not for dissemination in
the United States or through U.S. newswires
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