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 $4.0 M will be held between now and no later than March 2010 in order that proceeds can be advanced to the Company to fund operational overheads including repayment of indebtedness to Royal Roads Corp. and the advancement of Acadian�s gold properties in accordance with an agreed upon budget.
About Acadian
Acadian is a Halifax, Nova Scotia, Canada based mining company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Company also owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance. Acadian is actively exploring and developing its gold, zinc-lead, and barite properties in Atlantic Canada. Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.
Additional Information
For additional information on Acadian�s properties and activities, please visit our web site at www.acadianmining.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
G. William Felderhof, President & CEO
or Terry F. Coughlan, Vice President
(902) 444-7779 Toll Free: 877-444-7774
mail@acadianmining.com
Halifax, Nova Scotia
No regulatory authority has approved or disapproved the contents of this release.
<
|
Acadian Mining Corporation
|
|
EXPLORATEUR |
CODE : ADA.TO |
|
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Acadian Mining est une société d’exploration minière d'or basée au Canada. Acadian Mining détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont JACKS POND, BUCHANS, TULKS HILL OPTIONED TO PROMINEX, SMITHFIELD NOVA SCOTTIA, LITTLE SANDY, CLEMENTINE, TULKS NORTH et 15 MILE STREAM au Canada. Acadian Mining est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,1 millions CA$ (4,1 millions US$, 3,1 millions €). La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2008 à 0,02 CA$, et son plus haut niveau récent le 22 janvier 2010 à 9,00 CA$. Acadian Mining possède 67 690 000 actions en circulation. |