RAB Special Situations (fka RAB)

[Tackler]

Adroit Resources arranges $450,000 equity offering

2004-06-09 12:12 ET - News Release


Mr. Graeme Rowland reports

PRIVATE PLACEMENT

Adroit Resources Inc., subject to TSX Venture Exchange acceptance, has arranged a non-brokered private placement totalling up to $450,000 for 1.2 million units consisting of one share and one transferable warrant, each warrant to entitle the holder to purchase one new common share of the company at a price of 50 cents until May 31, 2005, and 60 cents until May 31, 2007. The major investor in this private placement is the RAB Special Situations Fund which is subscribing for one million units. A portion of the private placement will be eligible for flow-through tax benefits. The proceeds from this financing will be used for general working capital, current obligations plus the development and possible acquisition of mineral properties. A finder's fee of up to 10 per cent may be paid to arm's-length parties with respect to the private placement.

In making the announcement, Graeme Rowland, chairman and president of Adroit Resources, said, "I welcome RAB's much-appreciated support and I am delighted we have further funds for continuing the development of the company's business."