Adamera Minerals Announces Non-Brokered Financing
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Vancouver, British Columbia, June 19, 2018 – Adamera Minerals Corp. (TSX-V:ADZ) announces a non-brokered private placement of up to 5 million units at a price of $0.06 per unit for aggregate gross proceeds of up to $300,000. Each unit will consist of one common share of the company and one half of one comman share purchase warrant. Each whole warrant will be exercisable for one common share of the company at a price of $0.12 for a period of three years from the date of issuance.
The warrants are subject to an accelerated expiry date, which comes into effect when the price of the Company's common shares on the TSX Venture Exchange closes at a price of $0.20 or more per share during any ten consecutive trading day period, commencing four months plus one day after the date of issuance of the warrants. In such an event, the expiry date will be accelerated to a date that is 30 days after the Company’s shares trade for ten consecutive days at or above $0.20.
The placement will rely upon the usual exemptions, and in addition, to accommodate participation from existing shareholders, the placement will be available to all persons who hold common shares of the Company.
The securities issued pursuant to the private placement will be subject to a four month hold period from the closing date. The Company may pay a finders' fee in connection with the private placement, subject to compliance with the policies of the Exchange. Completion of the private placement and the payment of any finders' fee remain subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange.
The proceeds of the private placement will be used for exploration and development of the Company's mineral properties, as well as for general working capital
Please visit our website for our latest corporate projects at www.adamera.com
Martin St. Pierre P.Geophysics, a Qualified Person as defined by National Instrument 43-101 has reviewed the data associated with the projects.
Adamera Minerals Corp. is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic Washington. This area has reportedly produced over 6 million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
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.