Adelayde Announces Closing of Private Placement to Fund Gold Drill Program in Nevada

Executive Summary

• Adelayde Exploration Inc. completed a private placement financing of 19,100,000 units at $0.05 per unit, generating $955,000 in gross proceeds.
• Each unit consists of one common share and half of a transferable warrant; additional non‑transferable finder’s warrants were issued as compensation.
• Net proceeds are earmarked for general working capital and to fund the maiden drill program at the Esmeralda County gold project in Nevada, slated to begin later in 2025.

Key Details

• Units Issued: 19,100,000 units @ $0.05 per unit → $955,000 gross proceeds.
• Unit Composition: 1 common share + ½ transferable share purchase warrant (each whole warrant allows purchase of one additional share at $0.075 for five years).
• Finder’s Fees: Cash fees of $26,480 paid; issuance of 529,600 non‑transferable finder’s warrants (price $0.075 or $0.085 per Finder’s Warrant Share, exercisable for two years).
• Statutory Hold Period: All securities subject to a hold period expiring four months and one day after closing.
• Use of Proceeds: Intended for general working capital and to launch the maiden drilling program at the Esmeralda County gold project, as well as supporting marketing efforts.
• President’s Comment (James Nelson): “We are pleased to have completed this private placement, which provides the capital to launch our maiden drill program… with gold prices near all‑time highs…”

Notable Quotes

“We are pleased to have completed this private placement, which provides the capital to launch our maiden drill program at the Esmeralda County gold project in Nevada and to support our marketing efforts.” – James Nelson, President & CEO

All securities issued are unregistered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent an exemption.