Adroit Closes $250,000 Private Placement With the MineralFields Group
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Adroit Resources Inc. (TSX VENTURE: ADT)(FRANKFURT: A7V)(BERLIN: A7V) is pleased to announce that it has completed a $250,000 non-brokered private placement with the MineralFields Group, issuing 4,166,666 flow through units at the price of $0.06 per unit.
Each flow through unit consisted of one (1) flow-through common share and one-half (1/2) of one non flow-through share purchase warrant. Each whole warrant (a 'Warrant') entitles the holder to purchase one additional common share for $0.10 until June 9, 2012, thereafter for $0.15 until December 9, 2012 and thereafter for $0.25 until December 9, 2013.
The Company paid cash finder's fees of $9,375 to Limited Market Dealing Inc. ('LMD') and $3,125 to Meadowbank Asset Management Inc. ('MAM') in connection with the financing. In addition, the Company issued 312,500 compensation options ('Options') to LMD and 104,166 Options to MAM. Each Option is exercisable to purchase one (1) unit for $0.06, with each unit being comprised of one non-flow-through common share and one-half (1/2) of one share purchase Warrant exercisable on the same terms as the subscriber Warrant. The TSX Venture Exchange accepted the Company's filing in respect of this private placement on December 5, 2011. This private placement was originally announced on November 29, 2011.
'We are very pleased to have the continuing support of MineralFields Group as we further the exploration of our holdings in Ontario,' said Graeme Rowland, President and CEO.
All shares issued in connection with the private placement, and any shares issued pursuant to the exercise of warrants or finder's warrants, will be subject to a four month hold period expiring at midnight on April 9, 2012. The proceeds from this private placement will be used for exploration of the Company's mineral properties in Ontario, Canada. No 'control person' (as defined in Policy 4.1 of the TSX Venture Exchange) or new insiders was created as a result of the private placement.
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. The sector focus is on gold and precious metals, base metals, rare earths and lithium, potash, uranium, oil, coal and gas. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®, and have raised over $1 billion in their 10 year history.
Adroit Resources Inc. is a mineral exploration company that is currently exploring for Gold, Silver and Antimony in Central Italy and precious and base metals in the Temagami/Cobalt and Bancroft areas of Ontario, Canada. In addition, Adroit is seeking new precious and base metal projects and oil and gas prospects to add to its expanding portfolio.
Graeme Rowland, Chairman and President
Note: The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Adroit Resources Inc.
(604) 688-3304
info@adroitresources.ca
www.adroitresources.ca
Blackwell (Corporate Advisor)
(416) 364-3123
blackwell@tcn.net
Pure Investor Relations (German Corporate Advisor)
+49 (0)89 416175772
info@pure-ir.de
