Adamera Announces Financing
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Vancouver, British Columbia, April 21, 2023 - Adamera Minerals Corp. (TSX-V: ADZ; OTC: DDNFF) announces a non-brokered private placement of 6,700,000 units for $335,000. Each unit is priced at $0.05 and will consist of one common share and one half of one common share non-transferable warrant, with each warrant entitling the holder to purchase one common share at a price of $0.10 for a period of two years.
The warrants will be 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 may 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. No finder’s fee will be paid for this financing. The Company intends to use the net proceeds from the private placement for exploration and corporate operations.
The financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the TSX Venture Exchange.
About Adamera
Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: info@Adamera.com
Website: www.Adamera.com
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.
