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ADE Adex Mining Inc

0.005
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Adex Mining Inc TSXV:ADE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.005 0.005 0.01 100 01:00:00

Adex Shareholders Approve Great Harvest Transaction

14/10/2010 8:01pm

Marketwired Canada


Adex Mining Inc. ("Adex" or the "Corporation") (TSX VENTURE:ADE) is pleased to
announce that the shareholders of the Corporation today overwhelmingly approved
the transactions contemplated by Subscription Agreement (the "Agreement") made
as of the 18th day of August, 2010 between Adex and Great Harvest Canadian
Investment Company Limited ("Great Harvest") which were previously announced by
the Corporation in a press release on August 23, 2010. The first step in the
transactions, being a private placement (the "Private Placement") to Great
Harvest of 40,000,000 units (the "Units") at a price of $0.12 per unit with each
Unit consisting of one common share (a "Common Share") of Adex and one Common
Share purchase warrant (a "Series A Warrant"), is, subject to final TSX-Venture
Exchange approval, expected to close on or before October 25, 2010. 


Each Series A Warrant will entitle the holder thereof to acquire one Common
Share at a price of $0.18 at any time prior to 5:00 p.m. (Toronto time) on
earlier of (i) the first anniversary of the date of the closing of the Private
Placement, and (ii) the 30th day following the delivery by the Corporation to
the holder thereof of the report of the results of a Definitive Feasibility
Study on the commencement of a mining operation at either or both of the North
Zone or the Fire Tower Zone of the Corporation's Mount Pleasant Mine Property. 


ABOUT ADEX

Adex Mining Inc. is a Canadian junior mining company with an experienced
management team. The Corporation is focused on developing its flagship Mount
Pleasant Mine Property, a multi-metal project that is host to promising
tungsten-molybdenum and tin-indium-zinc-copper mineralization. Located in
Charlotte County, New Brunswick, the Mount Pleasant Mine Property is situated
approximately 80 kilometres south of Fredericton, the provincial capital, and is
65 kilometres from the United States border. The common shares of Adex trade on
the TSX Venture Exchange under the stock symbol "ADE".


FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements of Adex, its
subsidiary or the industry in which they operate to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements. When used in this press release, the words
"estimate", "believe", "anticipate", "intend", "expect", "plan", "may",
"should", "will", the negative thereof or other variations thereon or comparable
terminology are intended to identify forward-looking statements. Such statements
reflect the current expectations of the management of Adex with respect to
future events based on currently available information and are subject to risks
and uncertainties that could cause actual results, performance or achievements
to differ materially from those expressed or implied by those forward-looking
statements. These risks and uncertainties are detailed from time to time,
including, without limitation, under the heading "Risk Factors", in reports
filed by Adex with the Alberta, British Columbia and Ontario Securities
Commissions which are available at www.sedar.com and to which readers of this
press release are referred for additional information concerning Adex, its
prospects and the risks and uncertainties relating to Adex and its prospects.
New risk factors may arise from time to time and it is not possible for
management to predict all of those risk factors or the extent to which any
factor or combination of factors may cause actual results, performance and
achievements of Adex to be materially different from those contained in
forward-looking statements. Although the forward-looking statements contained in
this press release are based upon what management believes to be reasonable
assumptions, Adex cannot assure investors that actual results will be consistent
with these forward-looking statements. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking statements as a
prediction of actual results.


The forward-looking information contained in this press release is current only
as of the date of the press release. Adex does not undertake or assume any
obligation to release publicly any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events, except as required by law.


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