Adamera Minerals Announces Non-Brokered Financing
Not for dissemination in the United States or through U.S. newswires
Vancouver, British Columbia, February 17, 2021 - Adamera Minerals Corp. (TSX-V:ADZ) announces a non-brokered private placement of 15 million units at a price of $0.10 per unit for aggregate gross proceeds of up to $1,500,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole Warrant will be exercisable for one common share of the Company at a price of $0.15 for two year 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 $0.25 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 may be accelerated to a date that is 30 days after the Company’s shares trade for ten consecutive days at or above $0.25.
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 Company intends to use the net proceeds from the private placement for operations and exploration.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 8 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.