Adamera Minerals Announces Non-Brokered PrivatePlacement Financing
posted on
Jan 23, 2014 11:50AM
High Grade GOLD and SILVER Exploration in Washington State
(via Thenewswire.ca)
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