New Issue: Acadian Mining seals C$1.48 million private placement of common stock

By Devika Patel

Knoxville, Tenn., July 16 - Acadian Mining Corp. said it completed a C$1.48 million private placement of stock.

The company sold 49,233,866 common shares to Golden River Resources Corp. at C$0.03 per share.

Acadian will use the proceeds for gold exploration.

Acadian is a Halifax, N.S.-based mining company that operates a zinc-lead mine at Gays River, N.S., and is exploring and developing gold, zinc-lead and barite properties in Atlantic Canada.

Issuer:	Acadian Mining Corp.
Issue:	Common shares
Amount:	C$1,477,016
Shares:	49,233,866
Price:	C$0.03
Warrants:	No
Investor:	Golden River Resources Corp.
Settlement date:	July 16
Stock symbol:	Toronto: ADA
Stock price:	C$0.035 at close July 15
Market capitalization:	C$17.23 million

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