Adelayde Announces Flow-Through and Non-Flow-Through Private Placements
Executive Summary
- Adelayde Exploration Inc. announced a non‑brokered flow‑through private placement (FT PP) to raise up to $1,000,000 at $0.13 per FT Unit.
- The company also announced a non‑flow‑through private placement (Non‑FT PP) to raise up to $1,500,000 at $0.10 per Non‑FT Unit.
- Proceeds will be allocated to existing Canadian properties (FT PP) and general working capital (Non‑FT PP).
Key Details
- FT Private Placement:
- Maximum gross proceeds: $1,000,000.
- Price: $0.13 per FT Unit.
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Each FT Unit = 1 flow‑through common share + 1 transferable warrant (right to purchase 1 non‑flow‑through common share at $0.25 for 2 years).
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Non‑FT Private Placement:
- Maximum gross proceeds: $1,500,000.
- Price: $0.10 per Non‑FT Unit.
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Each Non‑FT Unit = 1 common share + 1 transferable warrant (right to purchase 1 common share at $0.20 for 5 years).
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Use of Proceeds:
- FT PP net proceeds → funding of existing Canadian properties.
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Non‑FT PP net proceeds → general working capital.
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Statutory Hold Period: All securities issued are subject to a hold period expiring four months and one day after closing.
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Finder’s Fees: May be paid to eligible finders in connection with both private placements.
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Qualified Person: Technical contents reviewed and approved by Frank Bain, P.Geo., Director & QP (NI 43‑101).
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Contact: President/CEO James Nelson – T: 604‑646‑6903; E: [email protected].