Hightime Investments Pty Ltd. Increases Stake in Adamus Resources Limited



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

    VANCOUVER, Aug. 7 /CNW/ - Hightime Investments Pty Ltd. ("Hightime")
announced today that it has acquired an additional 3,200,000 fully paid
ordinary shares (the "Additional Shares") of Adamus Resources Limited
("Adamus"). Hightime, is a company, controlled by Mr. Robert Gardner. The
Additional Shares were subscribed for by Hightime as part of a private
placement by Adamus of an aggregate of 12,250,000 ordinary shares at a price
of A$0.64 per share (the "Private Placement").
    The Additional Shares represent 2.75% of the issued and outstanding
shares of Adamus. After the purchase of the Additional Shares, Hightime and
Gardner will have beneficial ownership of, or the power to exercise of control
or direction over, an aggregate of, 20,821,761 ordinary shares of Adamus,
representing approximately 16.2% of the issued and outstanding ordinary shares
of Adamus, after giving effect to the Private Placement.
    Hightime has warranted that it will not sell the Additional Shares on the
TSX Venture Exchange or knowingly to a Canadian resident for a period of four
months and one day from the allotment of the shares. Hightime has acquired the
Additional Shares for investment purposes and may at any time and from time to
time acquire ownership of or control or direction over further ordinary shares
of Adamus, or dispose of its holdings of ordinary shares of Adamus.

    Adamus is listed on the TSX Venture Exchange. Hightime Investment Pty
    Ltd. is a private company headquartered in Perth, Western Australia.

    %SEDAR: 00021017E




For further information:

For further information: please refer to the Early Warning Report filed
by Hightime on SEDAR (www.sedar.com) or contact: Hightime Investments Pty Ltd.
Level 1, 66 St. Georges Terrace Perth, Western Australia, Australia 6000, T:
+61 8 9426 0666

Organization Profile

ADAMUS RESOURCES LIMITED

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