AAA.L Regulatory News (AAA)

14 Dec 2005 07:01

Adastra Minerals Inc14 December 2005 NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Adastra Minerals Inc. announces C$10.2 million financing pursuant to Private Placement London, UK (December 14, 2005) Adastra Minerals Inc. ("Adastra") today announcedthat it has agreed to place 6,000,000 class "A" common shares of no par value ("the Placing Shares") at C$1.70 per share on a private placement basis to raiseC$10,200,000 before expenses. Canaccord Capital (Europe) Limited, MGISecurities Inc. and Mirabaud Securities Limited are acting as agents for thepurposes of this private placement. Following the Placement, there will be77,185,331 class "A" common shares of no par value in issue. It is expected that this Private Placement will close on December 20, 2005. About Adastra Adastra is an international mining company listed on the Toronto Stock Exchangeand admitted for trading on AIM, in London, under the symbol "AAA". Adastra iscurrently developing several mineral assets in Central Africa, including theKolwezi Tailings Project and the possible rehabilitation of the Kipushi zincmine in the DRC. Adastra's growth strategy emphasizes the creation ofshareholder value through the development of world-class resources in stable orstabilizing political environments. - Ends - Contact us: LondonTim Read Cathy Malins / Annabel LeatherChief Executive Officer Parkgreen CommunicationsT: +44 (0)20 7355 3552 T: +44 (0)20 7493 3713F: +44 (0)20 7355 3554 F: +44 (0)20 7491 3936E: london@adastramin.com E: cathy.malins@parkgreenmedia.com North AmericaMartti KangasThe Equicom GroupT: +1 416 815 0700 x. 243 +1 800 385 5451 (toll free)F: +1 416 815 0080E: mkangas@equicomgroup.com This News Release contains forward-looking statements within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 concerning theCompany's plans for its Kolwezi Project in the Democratic Republic of Congo ("DRC") and the resource size and economic potential of that project. Theseforward-looking statements are subject to a variety of risks and uncertaintieswhich could cause actual events or results to differ materially from thosereflected in the forward-looking statements, including, without limitation,risks and uncertainties relating to political risks involving the Company'soperations in the DRC and the policies of other nations and organizationstowards companies doing business in such jurisdictions, the inherent uncertaintyof production and cost estimates and the potential for unexpected costs andexpenses, commodity price fluctuations, the inability or failure to obtainadequate financing on a timely basis and other risks and uncertainties,including those described in the Company's Annual Report on Form 20-F for theyear ended October 31, 2003 and Reports on Form 6-K filed with the Securitiesand Exchange Commission. This information is provided by RNS The company news service from the London Stock Exchange