Mr. Mark Kolebaba reports
ADAMERA MINERALS INCREASES AND CLOSES PRIVATE PLACEMENT
Adamera Minerals Corp. has closed the financing announced June 7, 2018. The company increased the private placement from five million units for $300,000, as originally announced, to 8,333,333 units for $500,000. Each unit is priced at six cents and will consist of one common share and one-half of one non-transferable warrant, with each whole warrant entitling the holder to purchase one common share at a price of 12 cents for a period of three years until July 11, 2021.
The warrants are subject to an accelerated expiry date, which comes into effect when the price of the company's common shares on the TSX Venture Exchange closes at a price of 20 cents or more per share during any 10-consecutive-trading-day period commencing Nov. 11, 2018. In such an event, the expiry date will be accelerated to a date that is 30 days after the company's shares trade for 10 consecutive days at or above 20 cents.
The securities issued pursuant to the private placement will be subject to a four-month hold period expiring on Nov. 12, 2018. The company paid finder's fees under the placement consisting of total cash commissions of $13,565 and 226,080 finders warrants. Each finder's warrant is exercisable into one share at 12 cents for 36 months and are subject to the same accelerated terms and expiry date.
The proceeds of the private placement will be used for exploration and development of the company's mineral properties, as well as for general working capital.
Please visit the company's website for its latest corporate projects.
Martin St. Pierre, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed the data associated with the projects.
About Adamera Minerals Corp.
Adamera Minerals is exploring for a stand-alone high-grade gold deposit within hauling distance of an existing mill near Republic, Wash. This area has reportedly produced over six million ounces of high-grade gold. Adamera is the dominant regional explorer in the area.
We seek Safe Harbor.
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