Adelayde financing includes investment dealer exemption

Executive Summary

• Adelayde Exploration Inc. has announced a private placement financing to raise up to $1 million in gross proceeds to fund its gold drill program in Esmeralda County, Nevada, as well as general working capital.
• The company secured an exemption from the prospectus requirement via British Columbia Instrument 45-536 (Investment Dealer Exemption), confirming no undisclosed material facts or changes.
• The financing involves the issuance of up to 20 million units at $0.05 per unit, with net proceeds allocated to working capital and potential marketing efforts.

Key Details

• Gross Proceeds: Up to $1,000,000.
• Instrument: Up to 20,000,000 units.
• Price: $0.05 per unit.
• Unit Composition: Each unit consists of one common share and one transferable share purchase warrant.
• Warrant Terms: Each warrant allows the holder to acquire one additional share at an exercise price of $0.075 per share.
• Warrant Expiry: Five years from the closing of the financing (5 p.m. Vancouver time).
• Hold Period: All securities are subject to a statutory hold period of four months and one day post-closing.
• Use of Proceeds: General working capital, strengthening liquidity to allocate resources across the portfolio (Nevada gold project, New Brunswick tungsten project, and Quebec gold project).
• Exemption: Utilization of British Columbia Instrument 45-536, Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer.
• Company Context: The company notes a market capitalization under $2 million and fewer than 29 million shares currently outstanding.

Notable Quotes

• "With gold prices reaching record highs and fewer than 29 million shares currently outstanding, we believe this is an ideal time to launch a drill program on our gold project in Esmeralda county, Nevada." — James Nelson, President
• "The funds from this financing will significantly strengthen our working capital position, providing us with greater flexibility to allocate resources efficiently across our portfolio and to ramp up our marketing efforts." — James Nelson, President