CORRECTION: Adex Mining Announces Obtaining US$1,000,000 Loan
28 Janeiro 2014 - 9:38PM
Marketwired
CORRECTION: Adex Mining Announces Obtaining US$1,000,000 Loan
TORONTO, ONTARIO--(Marketwired - Jan 28, 2014) -
The following corrects and replaces the release sent for Adex
Mining Inc. sent today at 17:08 ET. The dateline should have read
"TORONTO, ONTARIO".
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.
Adex Mining Inc.Yan Kim Po, Chairman, Interim President andChief
Executive Officer1-866-508-2339
(ADEX)investorrelations@adexmining.comwww.adexmining.com
Adex Mining (TSXV:ADE)
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