Adamera Announces Shares for Debt Settlement


Follow this company

Companies Mentioned

TSX.V:ADZ
02/26/2014 [ACCESSWIRE]

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.

COMMENTS

Leave a comment...
 * 

Your Name
 *