HOMEX - Perth ------------------------- Places 10% of Macquarie Bank Limited
The Directors of Adamus Resources are pleased to announce that the Company has completed a share placement to Macquarie Bank. The placement consists of 4 million new ordinary shares to be issued at a price of $0.16 per share to raise a total of $640,000. Macquarie Bank has taken the position in Adamus following the Company's recent acquisition of the highly prospective Salman Gold Project. Funds raised through the placement will be utilised for exploration at Salman where a program designed to test the initial resource potential of the project is currently underway.
The Directors of Adamus welcome Macquarie Bank to the register and believe their extensive experience in funding and investing in major gold projects in Africa will be an asset to Adamus as the Company seeks to significantly advance the Salman Gold Project.
Included in the placement of new shares to Macquarie Bank will be the issue of 3 million free attaching, unlisted options exercisable at 20 cents and expiring on 30 June 2005.
H Halliday MANAGING DIRECTOR
ends - AAP
ADU Price at posting:
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