Adex Mining Announces New Loan Agreement with Great Harvest
ADEX MINING ANNOUNCES NEW LOAN AGREEMENT WITH GREAT HARVEST
Toronto, Ontario – March 5, 2024 – Adex Mining Inc. (“ Adex” or the “ Company”) (TSX‐V: ADE)
announces today that it has entered into a new loan agreement with Great Harvest Canadian Investment
Company Limited (“ Great Harvest”), Adex's largest shareholder , pursuant to which the Company has
obtained, and Great Harvest has agreed to provide, a new unsecured loan (the “Loan”) in the principal
amount of up to US$1,000,000. The Loan bears interest at 8% per annum and the Loan agreement entitles
the Company to effect repayment of amounts drawn under the Loan at any time prior to maturity, without
penalty. The New Loan matures on January 1, 2025.
A copy of the Loan agreement may be found on the Company’s SEDAR+ profile at www.sedarplus.ca.
Great Harvest beneficially owns, directly or indirectly, or exercises control or direction over, 554,468,276
common shares (“ Common Shares ”) of Adex, representing approximately 81.88% of the issued and
outstanding Common Shares. Great Harvest is controlled by Yan Kim Po and Linda Lam Kwan, both
directors of the Company, and is a “related party” of the Company within the meaning of Multilateral
Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). As
such, the Loan constitutes a “related party transaction"” within the meaning of MI 61-101. The Company
is relying on an exemption from the minority approval requirement that applies to related party
transactions, which exemption is available to the Company as: (i) the Loan comprise s a loan or credit
facility obtained on reasonable commercial terms that is not less advantageous to the Company than if the
loan or credit facility w ere obtained from a person dealing at arm's length with the Company; (ii) the
Loan is not convertible into equity or voting securities of the Company or a subsidiary of the Company;
and (iii) the Loan is not repayable as to principal or interest in equity or voting securities of the Company
or a subsidiary of the Company.
The Loan agreement has been reviewed and approved by a special committee (the “Special Committee”)
comprised of members of the Board who are independent of Great Harvest and are not members of
management of the Company. Each of Yan Kim Po, Linda Lam Kwan and Pierre Wing Kin Sze, all
directors of the Company who are associated with Great Harvest, abstained from voting with respect to
the Loan. The Special Committee determined that it is in the best interests of the Company to enter into
the Loan agreement.
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 kilometers south of Fredericton, the
provincial capital, and 65 kilometers from the United States border. The common shares of Adex trade on
the TSX Venture Exchange under the stock symbol “ADE”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Linda Lam Kwan
Chief Executive Officer
Adex Mining Inc.
1-647-243-8452
Email: [email protected]
Website: www.adexmining.com
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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, Ontario, New
Brunswick and Nova Scotia Securities Commissions which are available at www.sedar plus.ca 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.