VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 23, 2012) - Shares for Debt for $448,801. Adroit Resources Inc. (the "Company") (TSXV:ADT)(FRANKFURT:A7V)(BERLIN:A7V) is pleased to announce that the Company has filed shares for debt agreements to settle debts totaling $448,801 by issuing 8,976,020 common shares at a deemed price of $0.05 per share. The Company's January 6th, 2012 news release refers
Included in this settlement, is $395,631 owed under Loan and Purchase Agreements entered into by former management on October 12, 1999 with a private company and its shareholders to fund legal costs associated with litigation commenced against the B.C. Government for the expropriation of the Company's Amber mineral claims, in 1995. Subsequent to the Company entering into the Loan and Purchase Agreements, a director of the private company became a director and senior officer of the Company. That director will become the beneficial owner of 2,576,220 common shares on completion of the proposed debt settlement. The proposed debt settlement is subject to TSX Venture Exchange acceptance. All shares issued pursuant to the debt settlement will be subject to a four month hold period.
Private Placement for $500,000. Management is pleased to report that the Company has closed a private placing organised by the Company for $500,000. The Company's February 13th, 2012 news release refers. The financing is comprised of up to 100 units at $5,000.00 per unit. Each unit is comprised of one hundred thousand (100,000) common shares and fifty thousand (50,000), two year, transferable common share purchase warrants. Each warrant entitles the warrant holder to purchase one common share at a price of $0.10 per share in the first six months, at a price of $0.15 per share in the following six months or at price of $0.25 per share in the final year.
Two insiders of the Company have invested a total of $70,000 in the private placement. The private placement is subject to regulatory approval. A finder's fee may be payable in connection with this private placement in accordance with the policies of the TSX Venture Exchange.
The funds will be used for exploration purposes on the Company's projects in Canada and in Italy and for general corporate purposes.
Flow Through Private Placement for $36,000. Management is pleased to report that the Company has received agreements for and closed a $36,000 flow through private placement. The financing is comprised of 600,000 units @ $0.06 per unit. Each unit is comprised of one common flow through share and one half, two year, transferable ordinary common share purchase warrant. Each warrant entitles the warrant holder to purchase one common share at a price of $0.10 per share in the first six months, at a price of $0.15 per share in the following six months or at price of $0.25 per share in the final year.
The funds will be used for exploration purposes on the Company's projects in Ontario, Canada.
A finder's fee may be payable in connection with this private placement in accordance with the policies of the TSX Venture Exchange.
Adroit Resources Inc. is a mineral exploration company currently exploring for Gold, Silver and the strategic metal Antimony in Central Italy and diamonds, precious and base metals in the Timmins South/Shinning Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. There are currently 135,295,191 shares issued and outstanding and on approval of the aforementioned financings by the TSX Venture Exchange, there will be 154,871,211 shares issued and outstanding.
On behalf of the Board of Directors,
Graeme Rowland, Chairman and PresidentNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|08:47 PM||Sangoma Reports Results for Third Quarter of Fiscal 2013|
|07:38 PM||Ivanhoe Australia Limited: Proposed Company Name Change to Inova Resources Limited|
|07:02 PM||Calibre Mining Corp. Announces Results of Annual General and Special Meeting|
|07:00 PM||Kariana Resources Inc. Appoints New CEO and Director|
|06:00 PM||Canadian Orebodies Announces Adoption of Advance Notice By-Law|
|05:37 PM||Energy Income Fund Appoints Vestcap Investment Management as Investment Manager|
|05:16 PM||Vanoil Acquires Fluormin Plc.|
|05:01 PM||VIQ Solutions Reports First Quarter 2013 Results|
|05:00 PM||Functional Technologies to Apply for Extension of Creditor Protection Period|
|04:49 PM||Avis aux médias : Le ministre de l'Industrie prononcera une allocution lors d'un événement organisé par Aéro Montréal|
|04:49 PM||Media Advisory: Minister of Industry to Speak at Aero Montreal Event|
|04:44 PM||Pro-Trans Ventures Inc. Announces Resignation of Its President and CEO|
|04:44 PM||Spur Announces Adoption of Advance Notice Policy for Future Shareholder Meetings|
|04:39 PM||Total Energy Services Inc. Reports on Voting from the 2013 Annual and Special Meeting of Shareholders|
|04:38 PM||Exploration Khalkos inc. : Réorientation de la mission corporative sur des projets plus avancés|
|04:38 PM||Khalkos Exploration Inc.: Corporation Mission Shifts Towards More Advanced Projects|
|04:10 PM||IIROC: Resume, Cornerstone Metals Inc.|
|04:03 PM||2013-0507 - Suspension - Ecosse Energy Corp. (ECS)|
|04:03 PM||Leader Energy Services Reports First Quarter 2013 Results|
|04:01 PM||Macro Enterprises Inc. Announces 2013 First Quarter Results and Appointment of Independent Director|
|04:00 PM||Reliant Gold Corp. Announces Filing of Condensed Interim Financial Statements as at and for the Three Months Ended March 31, 2013 and Related Management's Discussion and Analysis|
|03:44 PM||La nouvelle carte électorale fédérale de l'Alberta|
|03:34 PM||Amendes imposées pour omission de respecter une ordonnance du tribunal|
|03:15 PM||Les prix du Barreau pour honorer les meilleurs éléments de la profession|
|03:10 PM||White Tiger Mining Corp.: Review of Exceptional Drill Results to Date for Marshall Lake Property, Ontario|
|03:00 PM||SG Spirit Gold Inc.: Terms for Pangea Energy Corp. Private Placement Announced|
|02:51 PM||Evertz Technologies Limited to Announce Year End Results on June 12, 2013|
|02:36 PM||Avis aux médias : Le ministre Oliver fera la promotion des avantages économique du développement responsable des ressources naturelles|
|02:29 PM||CRS Electronics Announces Resignation of CFO|
|02:27 PM||Ongweoweh Corp. Announces Acquisition of Shares of Axios Mobile Assets Corp.|
|More Press Releases From Marketwired|