Adex Mining Announces Obtaining US$1,000,000 Loan
29 1월 2014 - 6:08AM
Marketwired Canada
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) announces that it
has entered into a loan agreement with Great Harvest Canadian Investment Company
Limited ("Great Harvest") to provide an unsecured US$1,000,000 loan (the
"Loan"). The Loan is repayable on January 28, 2015 (the "Maturity Date") without
any deduction or withholding. The Company may make early repayment of the Loan
at any time prior to the Maturity Date without any prepayment penalty. The Loan
will accrue interest at a rate of 8% per annum, with the accrued interest to be
paid at the time of the repayment of the Loan.
The Loan will be used, among other things, for the preparation of a
prefeasibility report on the economic evaluation of the resources on the North
Zone and Fire Tower Zone on the Mount Pleasant Mine Property of the Company in
New Brunswick and for working capital purposes.
Great Harvest beneficially owns, directly or indirectly, or exercises control or
direction over, 80,000,000 common shares of Adex ("Common Shares"), representing
approximately 45.14% of the issued and outstanding Common Shares. Great Harvest
is controlled by Yan Kim Po and Linda Lam Kwan, both directors of the Company.
ABOUT ADEX
Adex Mining Inc. is a Canadian junior mining company with an experienced
management team. The Company 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 mineralization. Located in Charlotte
County, New Brunswick, the Mount Pleasant Mine Property is 80 kilometres south
of Fredericton, the provincial capital, and 65 kilometres from the United States
border. The common shares of Adex trade on the TSX Venture Exchange under the
stock symbol "ADE".
No securities commission or regulatory authority has approved or disapproved the
contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Adex Mining Inc.
Yan Kim Po, Chairman, Interim President and
Chief Executive Officer
1-866-508-2339 (ADEX)
investorrelations@adexmining.com
www.adexmining.com
Adex Mining (TSXV:ADE)
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Adex Mining (TSXV:ADE)
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