Adamera Announces Shares for Debt Settlement
February 26 2014 - 1:37PM
Access Wire
Vancouver, BC, February 26, 2014 -
Adamera Minerals Corp. (TSX V:
ADZ) - announces that it has settled $44,357.86 of debt through
issuance of 739,298 common shares of the company at a price of
$0.06 per share. The shares will be subject to a 4 month hold
period from the date of issuance. This transaction is with an
unrelated party and is subject to regulatory approval.
The shares associated with the debt
settlement are being issued to preserve cash committed to project
development and working capital.
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.
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