Adamera Minerals Increases and Closes Private Placement
Vancouver, British Columbia, July 12, 2018 – Adamera Minerals Corp. (TSX-V:ADZ) announces the closing of the financing announced June 07, 2018. The Company increased the private placement from 5,000,000 million units for $300,000, originally announced to 8,333,333 units for $500,000. Each unit is priced at $0.06 and will consist of one common share and one half of one non-transferable warrant, with each whole warrant entitling the holder to purchase one common share at a price of $0.12 for a period of 3 year until July 11, 2021.
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 November 11, 2018. 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 securities issued pursuant to the private placement will be subject to a four month hold period expiring on November 12, 2018. The Company paid finder's fees under the placement consisting of total cash commissions of $13,565 and 226,080 finders warrants. Each finders warrant is exercisable into one share at $0.12 for 36 months and are subject to the same accelerated terms and expiry date.
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.