Adanac Molybdenum Corporation Enters Into Term Sheet

Adanac Molybdenum Corporation (TSX:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) advised that the Company has entered into a Term Sheet with substantially all of its Senior Secured Noteholders.

The press release is quoted as saying:

Adanac Molybdenum Corporation is listed on the TSX and Frankfurt exchanges and owns the Ruby Creek Project in northern British Columbia. The Company has advanced the project through feasibility studies, a production decision and has previously ordered long-lead equipment, completed permitting for construction, constructed a road to the site and secured US$80 million in bridge financing.

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