Adanac Moly Corp. (AUA: TSX.V, Pink Sheets: ANCGF, Frank: A9N), announces that it has negotiated a private placement with Sextant Strategic Opportunities Hedge Fund LP/Fund Serv Code SCM 101, 200 Bay Street, Unit 3205, Box 181, Toronto, Ontario, to conduct a non-brokered private placement for up to 625,000 units ("Units") at $0.80 per Unit for gross proceeds of $500,000. Each Warrant will entitle the holder thereof to acquire one additional Common Share at $0.95 for two years from closing.
The Private Placement is subject to the approval of the TSX Venture Exchange.
On Behalf of Management
ADANAC MOLYBDENUM CORPORATION
Larry W. Reaugh,
President & Chief Executive Officer
