Vancouver, British Columbia - TheNewswire - October 18, 2023 - Adamera Minerals Corp. (TSX-V:ADZ) (OTC:DDNFF) announces a non-brokered non-flow-through financing of 5,000,000 units for $250,000 and a flow-through financing for 1,160,000 shares for $58,000. Each non-flow-through unit is priced at $0.05 and will consist of one common share and one common share non-transferable warrant, with each warrant entitling the holder to purchase one common share at a price of $0.05 for a period of three years. Each flow-through share is priced at $0.05.
The securities issued pursuant to the private placement will be subject to a four-month hold period. No finder’s fee will be paid for this financing. Insiders will participate $40,000 in flow-through financing. The Company intends to use the proceeds from the flow-through financing for exploration work on the South Hedley Project in southeastern British Columbia and use the proceeds from the non-flow-through financing for exploration outside of British Columbia and corporate operations.
The financing 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.
Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
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.
Not for dissemination in the United States or through U.S. newswires
Copyright (c) 2023 TheNewswire - All rights reserved.