Adamera arranges $724,000 private placement
Executive Summary
- Adamera Minerals Corp. announced a non‑brokered private placement to raise up to $724,000 for near‑term exploration drilling on its Flag Hill South gold‑silver property in Washington State and systematic exploration on the South Hedley gold‑copper project in British Columbia.
- The offering consists of two components: up to 5.6 million units at $0.09 per unit (including common shares and warrants) and up to 2 million flow‑through units at $0.11 per unit (including common shares, half‑share warrants, and eligible for Canadian tax credits).
- Proceeds will be used for working capital, drilling on high‑grade gold targets in Washington, and qualifying Canadian exploration expenditures on newly identified prospects in British Columbia.
Key Details
- Unit Component:
- Up to 5.6 million units at $0.09 per unit → gross proceeds of $504,000.
- Each unit = 1 common share + 1 common‑share purchase warrant.
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Warrants exercisable at $0.15 for two years; accelerated expiry if TSX Venture price ≥ $0.20 for 10 consecutive trading days (expires 30 days after that period).
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Flow‑Through Component:
- Up to 2 million flow‑through units at $0.11 per unit → gross proceeds of $220,000.
- Each FT unit = 1 common share + ½ common‑share purchase warrant.
- Full warrants exercisable at $0.15 for two years; same accelerated expiry provision as above.
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Funds earmarked for qualifying Canadian exploration expenditures on gold, copper and zinc prospects at South Hedley (BC) and may qualify for the 30 % critical mineral exploration tax credit.
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Use of Proceeds:
- Working capital.
- Exploration drilling on Flag Hill South (Washington State).
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Systematic exploration and qualifying Canadian expenditures on South Hedley (British Columbia).
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Regulatory/Closing Terms:
- All securities subject to a statutory hold period of four months and one day from issuance.
- Private placement pending exchange approval.
- Finders’ fees may be paid as permitted under exchange policies.
Notable Quotes
“This financing provides Adamera with the ability to advance drilling on our high‑grade gold targets in Washington State while continuing systematic exploration on our South Hedley gold‑copper prospects in B.C.,” – Mark Kolebaba, President & CEO.