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ADT

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Share Name Share Symbol Market Type
TSXV:ADT 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 -

Adroit Resources Inc.: Financings Closed for $984,801 Total

22/05/2012 5:38pm

Marketwired Canada


Shares for Debt for $448,801. Adroit Resources Inc. (the "Company") (TSX
VENTURE: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 President

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