Adamus Resources Limited - Private Placement - Straits Minerals



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/
    

    PERTH, Western Australia, June 12 /CNW/ - Adamus Resources Limited
('Adamus' or 'the Company') (ASX & TSX-V:ADU) has raised further funding for
exploration and development at the Southern Ashanti Gold Project (Project) in
Ghana, West Africa and for general working capital. Gross proceeds of $3.5
million have been raised through the private placement of 10m shares to
Straits Mineral Investments Pty Ltd (Straits Minerals) at a price of $0.35 per
share (Placement).
    Straits Minerals is a wholly owned subsidiary of Straits Resources
Limited (Straits Resources). Straits Resources is a publicly listed company
focused on acquiring and developing assets within the gold, copper and bulk
commodities sectors. Based in Perth, the company has a management team with an
impressive track record of advancing resource projects through to production.
Straits Resources recently announced the sale of a stake in its coal assets
for up to US$355 million.
    "This adds another key industry and strategic investor to Adamus'
register that supports the Company's growth strategy" said CEO Mark Bojanjac.
    As announced on 10 June 2009, the Company has resolved to proceed with
development of the Project, subject to receipt of project financing on terms
acceptable to the Company. The Placement will provide the Company with interim
funding as it completes negotiations with prospective debt and equity
financiers.
    Completion of the Placement is subject to regulatory approval, including
approval of the TSX Venture Exchange. The Placement shares will be issued
pursuant to applicable prospectus exemptions.
    Detailed information on all aspects of the Company, including the Project
can be found on the Company's comprehensive website
www.adamusresources.com.au.

    
    Kind regards

    (signed)

    Mark Bojanjac
    Managing Director/CEO

    The TSX-V and ASX do not accept responsibility for the adequacy or
    accuracy of this release.  No stock exchange, securities commission or
    other regulatory authority has approved or disapproved the information
    contained herein.
    





For further information:

For further information: Mark Bojanjac, Managing Director, CEO, +61 8
9322 5943, email: mark@adamusresources.com.au; Mark Connelly, Executive
Director, COO, +61 8 9322 5943, email: mark.connelly@adamusresources.com.au;
For media enquiries contact: Brian Thornton, Farrington National, +61 2 9332
4448, email: bt@farrington.com.au

Organization Profile

ADAMUS RESOURCES LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890