Adamera receives over $670,000 from Warrant Exercise
Vancouver, British Columbia, April 03, 2017 - Adamera Minerals Corp. (TSX-V: ADZ) reports that the Company has received $672,260 from the exercise of warrants that expired on March 24, 2017 and March 30, 2017. Over 82% of these warrants were exercised prior to the expiry dates. The funds received from the exercise of these warrants will be used for the upcoming drill program in the Company's Cooke Mountain project. The current cash position of the company is approximately $1,077,000.
The Board of Directors has also approved the issuance of 400,000 stock options to its officers to purchase common shares of the Company at an exercise price of $0.145 per share for a period of 5 years, expiring on March 31, 2022.
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in Northeastern Washington State. While the existing third-party mill and superior logistics allow a smaller resource to be potentially economic, Adamera's primary goal is the discovery of a large stand-alone high grade gold deposit. Adamera is the dominant regional exploration company in the area.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Tel: (604) 689-2010
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.