Adelayde Exploration Closes Private Placement for Nevada Gold Drill Program
Adelayde Exploration Inc. has completed a private placement financing, raising $955,000 to fund its gold drilling program in Nevada.
Vancouver, B.C. – October 1, 2025 – Adelayde Exploration Inc. has announced the completion of its private placement financing. The company raised $955,000 by issuing 19.1 million units at $0.05 per unit. The net proceeds are designated for general working capital and work programs in Nevada.
The funds from the financing are intended to support Adelayde's maiden drill program at its gold project in Esmeralda County, Nevada. The company stated that with gold prices near all-time highs and renewed financing activity in the junior resource sector, the timing is opportune for this gold drill program, scheduled to commence in 2025.
In connection with the private placement, Adelayde paid cash finder's fees totaling $26,480 and issued 529,600 non-transferable warrants to certain finders. All securities issued are subject to a statutory hold period expiring four months and one day after the closing.
While Adelayde Exploration holds interests in lithium projects in Nevada, this latest funding allows for the advancement of its gold exploration efforts in the state.