Mr. Mark Kolebaba reports
ADAMERA FINANCING
Adamera Minerals Corp. intends to undertake a non-brokered private placement offering of up to 6,666,667 units at 15 cents per unit for gross proceeds of up to $1-million. The company will make a provision for an overallotment option to allow for the purchase of up to 3,333,333 additional 15-cent units beyond the number of units contemplated in this financing. If the overallotment option is fully exercised, the total gross proceeds will be $1.5-million from the sale of 10 million units.
Each unit consists of one common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the company at a price of 20 cents for a period of five years from the date of closing.
If the closing market price of the company's common shares on the TSX Venture Exchange is 30 cents or more over a period of 10 consecutive trading days at any time after the date that is four months and one day after the respective closing, the warrants will expire on the 30th day after the 10 consecutive trading days at or above 30 cents unless exercised by the holder on or before the accelerated expiry date.
The company intends to use the net proceeds of the private placement for exploration work on its gold properties and for general working capital. The securities associated with this private placement are subject to a statutory hold period of four months and a day from the closing date of the private placement. The private placement is subject to regulatory approval.
About Adamera Minerals Corp.
Adamera Minerals is exploring for a high-grade gold deposit near Republic, Wash. This area has reportedly produced eight million ounces of gold averaging 14.5 grams per tonne. Adamera is the dominant regional explorer in the area.
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