Adamera Minerals Announces Non-Brokered Financing
Not for dissemination in the United States or through U.S. newswires
Vancouver, British Columbia, October 16, 2019 - Adamera Minerals Corp. (TSX-V:ADZ) announces a non-brokered private placement of up to 8,333,333 units at a price of $0.03 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of 1 year following the closing of the private placement at a price of $0.06 per warrant share.
The private placement is a discretionary waiver financing pre-approved by TSX Venture Exchange. Limited participation by insiders has been waived. The financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final approval and acceptance by the TSX Venture Exchange.
The Company intends to use the net proceeds from the private placement for corporate operations and exploration.
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.