Adroit Resources Inc.: $1,000,000 Private Placement Agreed
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/27/11 -- Adroit Resources Inc. (TSX VENTURE: ADT)(FRANKFURT: A7V)(BERLIN: A7V) -
$1,000,000 Private Placement Agreed. Management is pleased to report that the Company has received and accepted private placement subscription agreements for a total of $1,000,000 from mainly new European investors. (The Company's May 3, 2011 news release refers). The financing is comprised of 100 units at C$10,000.00 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 C$0.15 per share in the first four months, at a price of C$0.25 per share in the following eight months or at price of $0.35 per share in the final year.
An insider of the Company has invested $60,000.00 in this 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.
President's Comments: 'I heartily welcome our new investors from Europe and thank them and all our existing investors for their much appreciated support.'
Correction: The most current antimony resource information on the 366 Ha I Salaioli Property in Italy, which will be the focus of a drilling campaign (see News Release dated May 16, 2001), is 31,500T @ 1.5% Sb. This historical resource estimate is non-conformable with National Instrument 43-101, 'Standards of Disclosure for Mineral Deposits'. The historical reports have not yet been independently verified by the Company and the Company is not relying upon them. Mr. Franceschi, a Qualified Person, has approved the geological information contained in this news release.
Adroit Resources Inc. is a mineral exploration company currently exploring for Gold, Silver and especially the strategic metal Antimony in Central Italy and diamonds, precious and base metals in the Temagami/Cobalt and Bancroft areas of Ontario, Canada. In addition, Adroit is seeking new precious, base and strategic metal projects to add to its expanding portfolio. The Company's issued and outstanding share capital is 103,415,192. On the closing of the new private placement, the issued and outstanding share capital will be 113,415,192.
On behalf of the Board of Directors,
Graeme Rowland
Chairman and President
Note: The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Adroit Resources Inc.
(604) 688-3304
info@adroitresources.ca
www.adroitresources.ca
Blackwell (Corporate Advisor)
(416) 364-3123
blackwell@tcn.net
Pure Investor Relations (German IR - Corporate Advisor)
49 (0)89 416175772
info@pure-ir.de