VANCOUVER, BC / ACCESSWIRE / March 25, 2014 / Adamera Minerals Corp. (TSX V: ADZ) announces it has received final TSX Venture Exchange acceptance and has now closed its non-brokered private placement offering of $0.07 units, which was originally announced March 14, 2014.
The total number of securities issued in the financing consists of 6,285,713 units, raising CDN $440,000.00.
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 $0.12 per share for a period of three years, expiring March 24, 2017.
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 July 25, 2014.
No finder's fees were paid in conjunction with this financing.
Net proceeds of the offering will be used for exploration activities on the Company's Washington State projects and for company operations.
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,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: [email protected]
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.
Not for dissemination in the United States or through U.S. newswires
SOURCE: Adamera Minerals Corp.