Adelayde arranges $1-million private placement

Executive Summary

• Adelayde Exploration Inc. has arranged a private placement to raise up to $1 million in gross proceeds to fund its gold drill program in Esmeralda County, Nevada, and for general working capital.
• The financing involves the issuance of up to 20 million units at a price of $0.05 per unit, with each unit consisting of one common share and one transferable share purchase warrant.
• The warrants allow holders to acquire additional shares at $0.075 per share for a period of five years from the closing date, with all securities subject to a statutory hold period of four months and one day.

Key Details

• Gross Proceeds: Up to $1,000,000.
• Unit Price: $0.05 per unit.
• Quantity: Up to 20,000,000 units.
• Unit Composition: Each unit comprises one common share and one transferable share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.075 per warrant share.
  • Duration: Five years from the closing of the financing.
  • Transferability: Transferable.
• Use of Proceeds: General working capital and funding the planned gold drill program in Esmeralda County, Nevada.
• Hold Period: All securities are subject to a statutory hold period expiring four months and one day after the closing of the financing.
• Finders' Fees: May be paid to eligible finders in connection with the financing.
• Outstanding Shares: Approximately 29 million shares currently outstanding.
• Market Capitalization: Less than $2 million.

Notable Quotes

• "With gold prices trading at record highs and with under 29 million shares currently outstanding, there has never been a better time for a drill program on our gold project in Esmeralda county, Nevada. Nevada is one of the premier addresses for silver and gold mining in the world. This financing will strengthen our working capital, allowing us to be more agile in the future when allocating resources for projects and a robust marketing effort. Given our current market capitalization of less than $2-million, any success in the ground could have an outsized impact on Adelayde's valuation." — James Nelson, President