Adelayde Announces Closing of Private Placement to Fund Gold Drill Program in Nevada

Core Viewpoint - Adelayde Exploration Inc. has successfully completed a private placement financing, raising $955,000 to fund its gold drill program in Nevada, with the program set to begin in 2025 [1][4]. Financing Details - The company issued a total of 19,100,000 units at a price of $0.05 per unit, resulting in gross proceeds of $955,000 [1]. - Each unit consists of one common share and one-half of a share purchase warrant, with warrants priced at $0.075 per share for five years [1]. - Cash finder's fees of $26,480 were paid, along with the issuance of 529,600 non-transferrable share purchase warrants [2]. Use of Proceeds - Net proceeds from the financing are intended for general working capital and work programs in Nevada [3]. Company Background - Adelayde Exploration Inc. holds multiple projects, including three lithium projects in Clayton Valley, Nevada, and a gold project in Esmeralda County, Nevada [6]. - The company’s lithium projects include the McGee lithium clay deposit with a resource estimate of 2,092,000 tonnes of lithium carbonate equivalent [6].