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Share Name | Share Symbol | Market | Type |
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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 | |
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0.00 | 0.00% | 0 | - |
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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