Trading Symbol: ADA:TSX; C2Z-Frankfurt News Release No. 19-09
Shares Outstanding: 358,375,569 September 30, 2009
ACADIAN MINING ANNOUNCES FOURTH CLOSING OF PRIVATE PLACEMENT FOR
$1 MILLION
Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Company") is pleased to announce that it has completed a fourth closing ("Fourth Closing") of the second tranche ("Second Tranche") of the private placement of common shares to Golden River Resources Corporation ("Golden River") first announced on March 17, 2009. On the Fourth Closing, Acadian issued 33,332,834 common shares for proceeds of approximately $1 million. To date, tranches totaling $6 million have been received representing an aggregate issuance of 204,795,287 common shares to Golden River.
Additional closings of the Second Tranche totalling approximately $4.0 M will be held between now and no later than March 2010 in order that proceeds can be advanced to the Company to fund operational overheads including repayment of indebtedness to Royal Roads Corp. and the advancement of Acadian�s gold properties in accordance with an agreed upon budget.
About Acadian
Acadian is a Halifax, Nova Scotia, Canada based mining company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Company also owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance. Acadian is actively exploring and developing its gold, zinc-lead, and barite properties in Atlantic Canada. Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.
Additional Information
For additional information on Acadian�s properties and activities, please visit our web site at www.acadianmining.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
G. William Felderhof, President & CEO
or Terry F. Coughlan, Vice President
(902) 444-7779 Toll Free: 877-444-7774
mail@acadianmining.com
Halifax, Nova Scotia
No regulatory authority has approved or disapproved the contents of this release.
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Acadian Mining Corporation
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EXPLORATION STAGE |
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CODE : ADA.TO |
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Acadian Mining is a gold exploration company based in Canada. Acadian Mining holds various exploration projects in Canada. Its main exploration properties are JACKS POND, BUCHANS, TULKS HILL OPTIONED TO PROMINEX, SMITHFIELD NOVA SCOTTIA, LITTLE SANDY, CLEMENTINE, TULKS NORTH and 15 MILE STREAM in Canada. Acadian Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 4.1 millions as of today (US$ 4.1 millions, € 3.1 millions). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on January 22, 2010 at CA$ 9.00. Acadian Mining has 67 690 000 shares outstanding. |