Adamera Announces Financing

About this update from Adamera Minerals Corp.

[{"type":"text","content":"Adamera Announces Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n June 18, 2024 - Adamera Minerals Corp.\n(TSX-V: ADZ; OTC: DDNFF)\n \n \n announces a $2,000,000\nfinancing involving the issuance of 8,000,000 units at a price of\n$0.25. Each unit will comprise one common share and one-half warrant.\nEach full warrant will be exercisable at a price of $0.30 for a period\nof 5 years. The warrant will have an acceleration provision whereby\nthe warrants must be exercised within 30 days after the stock trades\nat a price of $0.40 or more for at least 10 consecutive days.\n \n \n \n \n The proceeds of the financing will be used for\nexploration on Adamera’s drill-ready gold-silver-copper targets and\nongoing administration.\n \n \n \n \n Mr. Mark Kolebaba, President and CEO comments\n“\n \n \n This financing is\nparticularly meaningful when one considers our tight share structure,\nmarket conditions and a news flow that will be dominated by drilling\nresults. We intend to keep our overheads and operating costs very low.\nImportantly, we look forward to getting some exciting news to our\ninvestors.\n \n \n ”\n \n \n \n \n For many years, Adamera focused on land acquisitions,\ntarget development and limited drilling on targets situated in\nrelatively close proximity to previously mined deposits.  That work\nalmost invariably intersected gold mineralization that could be\ndescribed as “proof of concept discoveries.”  Our limited\nexploration budgets severely constrained the scope of drilling\nprograms and denied our ability to undertake follow up\ndrilling\n \n \n .\n \n \n Adamera is reintroducing its projects in anticipation of a\nsignificant work program. The Company also reiterates the importance\nof larger drill programs allowing for the testing of 15 to 20 targets.\nAdamera will continue with drill permitting on multiple\ntargets.\n \n \n \n \n The Projects\n \n \n \n \n Northeast Washington State is known for hosting\nhigh-grade gold deposits. It is part of a region that extends between\nB.C. and Washington State that produced over 17 million ounces of\ngold. The Washington State contribution is 8 million ounces of gold at\nan average grade of 14.5 grams per tonne...

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