Adamera Minerals Closes Financing
(via Thenewswire.ca)
Vancouver, BC, July 2, 2013
- Adamera Minerals Corp. (TSX
V:ADZ) announces that it has
completed the non-brokered private placement announced on June 11,
2013. The Company has issued 4,754,667 units at $0.06 per unit for
total gross proceeds of $285,280. Each unit
consists of one common share and one share purchase warrant. Each such
common share purchase warrant is exercisable into one common share for
a period of four years from closing at a price of $0.10 cents per
share until June 28, 2017, however 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. The Company paid a finder's
fee of 20,000 common shares in connection with the financing.
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,
Janice Davies
Corporate Secretary
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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