Adamera Minerals Completes Financing and Prepares for Exploration Program
posted on
Feb 14, 2014 01:34PM
High Grade GOLD and SILVER Exploration in Washington State
tnw
(via Thenewswire.ca)
Vancouver, BC, February 14, 2014
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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 beha
lf 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:
http://www.adamera.com/">www.Adamera.com