Adamera Minerals Announces Non-Brokered Private Placement Financing
January 23 2014 - 8:01AM
Access Wire
Vancouver, BC, January
23, 2014 - Adamera Minerals
Corp. (TSX V:ADZ) announces that
it intends to complete a non-brokered private placement of up to
5,000,000 units priced at $0.06 per share, for total gross proceeds
of up to $300,000. 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 two years from closing at a price of $0.10 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.
Specifically, Adamera intends to drill targets on 4 of its 5 key
projects in Washington State with these funds.
Finders will be entitled to a
fee in the amount of 5.0% of the gross proceeds received from the
sale of shares, payable in shares.
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.
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.
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