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APD Advanced Primary Minerals Corporation

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Share Name Share Symbol Market Type
Advanced Primary Minerals Corporation TSXV:APD 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 -

Advanced Primary Minerals Corp. Announces Closing of $1M Private Placement Offering

06/08/2010 2:41pm

Marketwired Canada


Advanced Primary Minerals Corporation (the "Corporation" or "APM") (TSX
VENTURE:APD) is pleased to announce it has closed the private placement offering
of common shares ("Common Shares") announced on June 28, 2010 (the "Offering").
APM issued 6,797,997 Common Shares at $0.15 per Common Share for aggregate gross
proceeds of $1,019,700. Erdene Resource Development Corporation ("ERD") and
directors, officers, employees and consultants of APM subscribed to an aggregate
of 3,321,333 Common Shares or 49% of the Offering. 


Ken MacDonald, President and CEO of APM, said "We are very pleased with the
response to our private placement, especially the overwhelming support from the
insiders of the Corporation as confirmation of the encouraging outlook for the
Corporation. We are now in a position to make the necessary plant modifications
to accommodate new sales commitments and to expand our line of primary kaolin
products from our patent pending DHS process in response to feedback from
prospective customers."


Advanced Primary Minerals operates a newly commissioned kaolin processing plant
in Dearing, Georgia producing performance filler, glazing and coating products
for the ceramics, plastics and refractory industries as well as other specialty
industrial applications. The Corporation plans to immediately begin a capital
expansion program at its plant in Dearing, Georgia with the installation of new
product silos, bagging and classification equipment to accommodate increased
sales and new product lines. In addition, work will commence right away on a
feasibility program to evaluate a number of expansion options and to determine
the optimal plan for permitting and development of the Corporation's 330 acre,
high quality primary kaolin resource located in McDuffie County within eight
miles of the Dearing plant. 


In connection with the Offering, certain persons ("Finders") received an
aggregate of $30,800 in cash finder's fees and 252,666 warrants ("Finder's
Warrants"), with respect to the proceeds raised from the sale of Common Shares
to subscribers introduced by such Finders. Each Finder's Warrant entitles the
holder to subscribe for one Common Share of the Corporation for $0.15 at any
time until August 4, 2012. 


APM is also pleased to announce the closing of its debt settlement transaction
(the "Transaction") with ERD whereby APM issued 2,527,340 Common Shares in
settlement of CAD $379,101 in existing debt owed by APM to ERD. Following the
closing of the Offering and the Transaction, ERD holds 15,717,748 (59.68%) of
the Corporation's issued and outstanding Common Shares.


All of the securities issued in connection with the Offering and the
Transaction, including those issued to Finders, are subject to a four month hold
period beginning on the date of issue.


About APM

APM, through its wholly owned subsidiary, Advanced Primary Minerals USA Corp.
(formerly Erdene Materials Corp.), operates a kaolin processing plant in
Dearing, Georgia and has been active in Georgia and South Carolina for over 10
years exploring for, evaluating, extensively testing and securing high quality
primary kaolin resources. APM has also operated an industrial minerals
laboratory in Eatonton, Georgia since 1998. The Corporation is targeting value
added products that benefit from the unique attributes of its high quality,
primary kaolin resource. Target markets include ceramics, paper, paint and
coatings, plastics, catalysts and other specialty industrial applications. APM
has 26,334,963 shares issued and outstanding and a fully diluted share position
of 28,286,200.


For additional information visit APM's website at www.advminerals.com or contact
the company via email at info@advminerals.com.


1 Year Advanced Primary Minerals Corporation Chart

1 Year Advanced Primary Minerals Corporation Chart

1 Month Advanced Primary Minerals Corporation Chart

1 Month Advanced Primary Minerals Corporation Chart