NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
VANCOUVER, British Columbia, March 01, 2018 (GLOBE NEWSWIRE) -- Almadex Minerals Limited (“Almadex” or the
“Company”) (TSX-V:AMZ) (OTCQX:AXDDF) is pleased to announce a proposed non-brokered private placement financing (the
"Offering") of up to 4,000,000 units (the “Units”) to raise approximately $5,600,000 at a price of $1.40 per Unit.
Each Unit will consist of one common share of the Company and one-half of one whole non-transferable common
share purchase warrant, each whole share purchase warrant (a "Warrant") entitling the holder thereof to purchase one common share
of the Company at a price of $2.00 per share for a period of two (2) years following the closing of the Offering.
Almadex intends to use the net proceeds of the Offering to continue drilling the El Cobre Au/Cu porphyry targets
in Veracruz, Mexico, for early stage exploration on other projects, and for general corporate purposes. It is intended that
subscribers in the Offering will be eligible to participate in the spinout transaction described in Almadex’s press release of
February 26, 2018.
The Company may pay finders’ fees in connection with the Offering in cash, shares, warrants or combinations
thereof. The Offering and payment of finders’ fees are subject to regulatory approval.
Morgan J. Poliquin, President and CEO of Almadex noted, “This financing will enable Almadex to continue with its
active drill program at the El Cobre project while the spinout transaction progresses, and will also situate Spinco with a healthy
treasury post-completion of the corporate reorganization in order that Spinco management can pursue the next discovery for the
group.”
Closing of the Offering is subject to receipt of applicable regulatory approvals including approval of the TSX
Venture Exchange. The securities issued will be subject to a standard four month hold period in Canada.
About Almadex
Almadex Minerals Limited is an exploration company that holds a large mineral portfolio consisting of projects
and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of over 35 years of prospecting and
deal-making by Almadex's predecessor company, Almaden Minerals Ltd. Almadex is currently focused on exploration at its El Cobre
gold/copper porphyry project in Veracruz, Mexico, in which it holds a 100% interest, subject to a sliding-scale net smelter returns
royalty (“NSR”) equivalent to 0.5% in the event that production from the property exceeds 10,001 tonnes per day of ore. This NSR
can be reduced to 0.25% at this production rate through the payment of US$3.0 million.
On behalf of the Board of Directors,
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Almadex Minerals Limited
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Almadex Minerals Limited
Tel. 604.689.7644
Email: info@almadexminerals.com
http://www.almadexminerals.com/
THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO
UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN. THE OFFERING IN QUESTION HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND THE SECURITIES SOLD IN SUCH OFFERING MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT
REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration drilling and other activities and events or developments that Almadex
Minerals Limited ("Almadex") expects to occur, are forward-looking statements. Forward-looking statements in this news release
include statements regarding the Offering, the spinout transaction and subscribers’ eligibility to participate therein, future
exploration plans and expenditures. Although Almadex believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may
differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in
forward looking statements include regulatory developments, market prices, exploration successes, and continued availability of
capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions
including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory
and governmental approvals for the transactions described herein, the ability of Almadex and other parties to satisfy stock
exchange and other regulatory requirements in a timely manner, the availability of financing for Almadex’s proposed transactions
and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements. Almadex does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by
applicable law.
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