Adamera Minerals Corp. (TSXV:ADZ) announces the closing of the financing announced on October 16, 2019 for 4,866,667 units for $146,000.
Adamera Minerals Corp. (TSXV:ADZ) announces the closing of the financing announced on October 16, 2019 for 4,866,667 units for $146,000. Each unit is priced at $0.03 and will consist of one common share and one non-transferable warrant, with each warrant entitling the holder to purchase one common share at a price of $0.06 for a period of 1 year until December 2, 2020.
The securities issued pursuant to the private placement will be subject to a four month hold period expiring on April 3, 2020. The Company intends to use the net proceeds from the private placement for corporate operations and exploration.
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.
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.