Adamera Minerals Announces Increase in Financing
Not for dissemination in the United States or through U.S. newswires
Vancouver, BC, February 12, 2014 - Adamera Minerals Corp. (TSX V:ADZ) is pleased to report that it is increasing its financing announced January 23, 2014 from 5 million units, to up to 6.83 million units, raising up to $410,000. Each unit will be issued at $0.06 and shall consist of one common share and one share purchase warrant. Each such share purchase warrant will be exercisable into one common share for a period of two years from closing at a price of $0.10 cents per share.
A Finder's Fee will be payable in common shares, equal to 5.0% of gross proceeds raised to persons or companies who qualify in accordance with securities legislation and TSX Venture Exchange policies to receive a finders' fee.
The financing is fully subscribed and is expected to be closing shortly, subject to receipt of all subscription proceeds, necessary documentation and TSX Venture Exchange acceptance.
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 2 years 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) 689-2010
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.