GREY:AUAYF - Post by User
Post by
holdemhion Feb 06, 2006 9:44pm
290 Views
Post# 10307949
news pp @ .80
news pp @ .80Adanac Moly Corp. (AUA: TSX.V, Pink Sheets: ANCGF, Frank: A9N) (“the Company”), announces that it has negotiated a private placement with Sextant Strategic Opportunities Hedge Fund LP/Fund Serv Code SCM 101, 200 Bay Street, Unit 3205, Box 181, Toronto, Ontario, to conduct a non-brokered private placement for up to 625,000 units (“Units”) at $0.80 per Unit for gross proceeds of $500,000. Each Warrant will entitle the holder thereof to acquire one additional Common Share at $0.95 for two years from closing.
The Private Placement is subject to the approval of the TSX Venture Exchange.
On Behalf of Management
ADANAC MOLY CORP.
"Larry W. Reaugh"
Larry W. Reaugh,
President and Chief Executive Officer