Almadex Minerals Announces Closing of $3.3 Million Non-Brokered Private Placement
NEWS RELEASE
February 27, 2017
Trading Symbols:
TSX-V: AMZ; OTCQB: AXDDF
www.almadexminerals.com
ALMADEX MINERALS ANNOUNCES CLOSING OF $3.3 MILLION
NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C. Almade x Minerals Limited (“Almadex” or the “Company”; TS X-V: AMZ; OTCQB: AXDDF) is
pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of
2,496,000 units (“Units”) at $1.35 per Unit. Each Unit consists of one common share of the Company and one -half of
one non -transferable common share purchase warrant (each such whole share purchase warrant, a “Warrant”).
Each Warrant allows the holder to purchase one common share of the Company at a price of $2.00 per share until
August 27, 2019. Fees consisting o f $106,650.00 in cash and warrants to purchase 44,400 common shares at a
price of $1.35 per common share until August 27, 2019 were paid to arms -length finders on a portion of the
placement. All securities issued in connection with the private placement ar e subject to a hold period in Canada
which expires on June 28, 2017.
Almadex intends to use the proceeds of the private placement to continue drilling targets at its 100% owned El Cobre
gold/copper porphyry project in Veracruz, Mexico, and for general working capital purposes.
Morgan Poliquin, President of Almadex, states, “We are very pleased to have received strong support for this offering
and to have closed on a larger amount than originally anticipated. The strong interest allows us to accelerate the d rill
program at El Cobre. With all necessary permits in hand , we will shortly have two drills turning at the project and look
forward to a productive year.”
Almadex also announces that, pursuant to its Stock Option Plan, it has granted stock options to a director of the
Company to purchase 115,000 common shares in the capital of the Company at an exercise price of $ 1.35 per share
which expire on February 27, 2019.
About Almadex
Almadex Minerals Limited is an exploration company that holds a large mineral p ortfolio 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 and, prior to its spinout, by Almaden Minerals Ltd. Almadex is currently focus ed 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 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:
- 2 -
Almadex Minerals Limited
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/
THIS NEWS RELEASE IS A MATTER OF RECORD ONLY, AND DOES NOT CONSTITUT E AN
OFFER OF THE SECURITIES DESCRIBED HEREIN. THE OFFERING IN QUESTION WAS NOT
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 use of proceeds from the private placement and 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 statemen ts include 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, the ability of Almadex and other parties to satisfy stock exchange and other regulatory requirements in
a timely manner, the availability of fin ancing 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.