Adamera Minerals Completes Financing and Prepares for Exploration Program
February 14 2014 - 8:35AM
Access Wire
Vancouver, BC, February 14, 2014
- Adamera
Minerals Corp. (TSX V:ADZ) is pleased to
announce it has received final TSX Venture Exchange acceptance and
has now closed its non-brokered private placement offering of $0.06
units, which was originally announced January 24, 2014 news release
and increased as announced in its February 11, 2014
release.
The total number of
securities issued in the financing consists of 6,666,666 Units,
raising CDN $400,000.00.
Each Unit consists of one common
share and one share purchase warrant ("Warrant"). Each Warrant is
exercisable into one additional common share at a price of $0.10
per share for a period of two years, expiring February 14,
2016.
A total of 62,500 common shares were
paid to finders in relation to the financing.
All securities issued by the Company
in connection with the private placement are subject to a statutory
hold period and may not be traded until June 15, 2014.
Net proceeds of the
offering will be used for exploration activities on the Company's
Washington State projects and for company operations. Specifically,
Adamera intends to drill targets on 4 of its 5 key projects in
Washington State with these funds.
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) 689-2010
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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