Adamera Announces Shares for Debt Settlement
Vancouver, BC, June 23, 2016 - Adamera Minerals Corp. (TSX V: ADZ) - announces that it has agreed to settle $21,008.39 of debt through issuance of 233,427 common shares of the company at a price of $0.09 per share. This transaction is subject to approval of the TSX Venture Exchange.
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 deposits within hauling distance of the operating Kettle River Mill in Northeastern Washington State. The Company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant mining/exploration company in the area through discovery.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 484-7120
Fax: (604) 484-7143
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.