Business
Forced Exercise Provision Triggered on Adamera Warrants, Possible Cash Proceeds of +$1.1 million
(via TheNewswire) VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 12, 2017 ...
About this update from Adamera Minerals Corp.
[{"type":"text","content":"Forced Exercise Provision Triggered on Adamera Warrants, Possible Cash Proceeds of +$1.1 million(via TheNewswire)\n\n \n\n\n \n \nVANCOUVER, BRITISH COLUMBIA / TheNewswire / May 12, 2017 - Adamera Minerals Corp (TSX-V: ADZ, OTC: DDNFF) announces that warrant holders of common share purchase warrants dated December 20, 2017 with an exercise price of $0.10 are now subject to a 30-day forced exercise provision as the Company's closing share price met or exceeded $0.20 for 10 consecutive trading days.\n\n \n \nThe warrant holders have 30 days from the date of this news release to exercise their warrants with an end date of June 10, 2017, otherwise the warrants will expire on the 31st day. Adamera requires a completed Election to Exercise form with registration and delivery instructions as well as payment for the Warrants to be exercised by 4 p.m. PT on June 10, 2017.\n\n \n \nA total of 7,506,900 unexercised warrants dated Dec 20, 2017 remain. If all warrants are exercised, cash proceeds would total $750,690.\n\n\n \n\n\n\n \n\"The early exercise of warrants by warrant holders is greatly appreciated by the Company. The exercise of these warrants will significantly increase Adamera's treasury in a less-dilutive manner than a new financing. The additional funds will allow us to drill test many more targets on our Cooke Mountain project in Washington State,\" says Mark Kolebaba, President and CEO of Adamera Minerals Corp.\n\n \n \nIn addition, 3,858,000 unexercised warrants dated June 28, 2017 with an exercise price of $0.10 are also subject to a 30-day forced exercise provision with an end date of June 9, 2017. If all June 28, 2017 warrants are exercised, cash proceeds would total $385,800. Approximately 3,400,000 of these warrants are held by insiders. \n\n \n \nThe anticipated use of proceeds resulting from the exercise of these warrants includes a phase 2 drill program and general working capital. The current exploration plan includes phase 1 drilling of 3000 m, collection of approximately 8000 soil samples, ground geophysical surveying and detailed geological mapping. \n\n \n \nWarrant holders are requested to refer to their Warrant Certificates for the detailed exercise requirements. For additional information please call Kieran at (604) 283-2342. \n\n \n \nAbout Adamera\n\n\n \nAdamera Minerals Corp. is exploring for high-grade ...