Each non-flow-through unit was priced at
The securities issued pursuant to the private placement are subject to a four-month hold period expiring on
A director and an officer of the Company purchased or acquired direction and control over a total of 800,000 flow through shares under the private placement. The placement to those persons constitutes a 'related party transaction' within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions ('MI 61-101') adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
The Company intends to use the proceeds from the flow-through financing for Canadian Exploration Expenditures as defined in the Income Tax Act,
About Adamera
Contact:
Email: info@Adamera.com
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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