(via Thenewswire.ca)
Vancouver, BC / TNW-ACCESSWIRE / October 17, 2014 / Adamera Minerals Corp. (TSX V: ADZ) announces that it has received regulatory approval to settle its debt of $46,691.16 to an unrelated party through issuance of 667,016 common shares of the Company at a price of $0.07 per share. The shares are subject to a 4 month hold period from the date of issuance.
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 1 year 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