Adamera Announces Shares for Debt Settlement
Vancouver, BC, October 17, 2014 - Adamera Minerals Corp. (TSX V: ADZ) announces that it has received regulatory approval to settle its debt of $46,691.16 to an unrelated party through issuance of 667,016 common shares of the Company at a price of $0.07 per share. The shares are subject to a 4 month hold period from the date of issuance.
The shares associated with the debt settlement are being issued to preserve cash committed to project development and working capital.
Adamera is exploring for high-grade gold near an operating mill in Washington State owned by Kinross Gold Corp. The 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 is a high-grade, low-cost producer with only 1 year mine life remaining. Adamera is currently exploring five projects with high-grade gold potential within hauling distance of the Mill.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 484-7120
Fax: (604) 484-7143
Email: [email protected]
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.