Adamera Minerals Announces Financing
(via Thenewswire.ca)
Vancouver, BC, June 11, 2013 - Adamera Minerals Corp. (TSX V:ADZ)
announces that it intends to complete a non-brokered private placement
of up to 5,000,000 common shares priced at $0.06 per share, for total
gross proceeds of up to $300,000. Each unit will consist of one common
share and one share purchase warrant. Each such common share purchase
warrant will be exercisable into one common share for a period of four
years from closing at a price of $0.10 cents per share. Net proceeds
of the offering will be used for exploration activities such as
drilling and trenching on the Company's projects including the Poland
China project in Washington State which recently yielded assays
between 4 g/t and 16 g/t gold (See news release dated June 5, 2013).
Forced Exercise Provision: If the closing price for the Company's
shares are $0.20 or greater for a period of 10 consecutive trading
days, the warrant holders will have 30 days to exercise their
warrants; otherwise the warrants will expire on the 31st day.
Finders will be entitled to a commission in the amount of 5.0% of the
gross proceeds received from the sale of shares, payable in shares.
The private placement 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. All securities
to be issued pursuant to the private placement will be subject to a
four-month hold period.
About Adamera
Adamera's strategy in Washington State is to cost effectively discover
high-grade gold mineralization within historic mining districts near
established infrastructure. Specifically, the company is targeting
areas near the Kinross Kettle River Mill. The Kinross mill is reported
to be operating at half capacity with ore shipped 70 kilometres from
the 1.3 million ounce Buckhorn mine. The Buckhorn mine has only 3-4
years mine life remaining. Average grade of the Buckhorn mine is 11.3
g/t gold and production costs are reported to be between $400 and $500
per ounce. Adamera is determined to discover a high grade gold deposit
within shipping distance to the Kinross Mill.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
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.
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