ADZ:CC - Adamera Closes Non-Brokered Financing
(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 25, 2023 - AdameraMinerals Corp. (TSXV:ADZ) announces the closing of a non-brokered private placement for 6,700,000units for $335,000. Each unit is priced at $0.05 and consists of onecommon share and one half of one common share non-transferablewarrant, with each warrant entitling the holder to purchase one commonshare at a price of $0.10 for a period of two years until April 25,2025.
The warrants are subject to an accelerated expiry date,which comes into effect when the price of the Company's common shareson the TSX Venture Exchange closes at a price of $0.20 or more pershare during any ten consecutive trading day period, commencing fourmonths plus one day after the date of issuance of the warrants. Insuch an event, the expiry date may be accelerated to a date that is 30days after the Company’s shares trade for ten consecutive days at orabove $0.20.
The securities issued pursuant to the private placementare subject to a four month hold period expiring on August 26, 2023. No finder’s fee is paid for this financing. The Company intends to use the net proceeds from the privateplacement for exploration and corporate operations.
Certain insider of the Company purchased or acquireddirection and control over a total of 200,000 Units under the privateplacement. The placement to this person constitutes a “relatedparty transaction” within the meaning of TSX Venture ExchangePolicy 5.9 and Multilateral Instrument 61?101 ? Protection of Minority Security Holders inSpecial Transactions (“MI 61?101”) adoptedin the Policy. The Company has relied on exemptions from the formalvaluation and minority shareholder approval requirements ofMI 61?101 contained in sections 5.5(a) and 5.7(1)(a) ofMI 61?101 in respect of related party participation in theplacement as neither the fair market value (as determined under MI61-101) of the subject matter of, nor the fair market value of theconsideration for, the transaction, insofar as it involved the relatedparties, exceeded 25% of the Company's market capitalization (asdetermined under MI 61-101).
About Adamera
Adamera Minerals Corp. is exploring for a high-grade gold deposit nearRepublic Washington. This area has reportedly produced 8 millionounces of gold. Adamera is the dominant regional explorer in the area.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: info@Adamera.com
Website: www.Adamera.com
The TSX Venture Exchange has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release. Statements in this press release, other thanpurely historical information, including statements relating to theCompany’s future plans and objectives or expected results, mayinclude forward-looking statements. Forward-looking statements arebased on numerous assumptions and are subject to all of the risks anduncertainties inherent in resource exploration and development. As a result, actual resultsmay vary materially from those described in the forward-lookingstatements.
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