Adroit Resources Inc.
TSX VENTURE : ADT
FRANKFURT : A7V
BERLIN : A7V

Adroit Resources Inc.

November 18, 2010 18:30 ET

Adroit Closes $1,500,000.00 Private Placement & Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2010) - Adroit Resources Inc. (TSX VENTURE:ADT)(FRANKFURT:A7V)(BERLIN:A7V) -

Private Placement Closed: Adroit Resources Inc. is pleased to announce that it has completed the private placement, announced on October 28th, 2010, of 25,000,000 units for CDN$1,500,000, each unit consists of one common share and one , three year transferable common share purchase warrant exercisable at a price of $0.10 per share.

All shares issued in connection with the private placement are subject to a four month hold period expiring on March 18th, 2011. The TSX Venture Exchange has accepted the Company's filing in respect of this private placement. The proceeds from this private placement will be used for general working capital, current obligations and the development of mineral properties. 

Insiders of the Company have subscribed for CDN$101,200.00 of this private placement. Finder's fees of $83,380.00 cash, 599,208 common shares and 1,575,760 two year non transferable share purchase warrants exercisable at $0.10 per share have been paid to arms length parties in accordance with TSX Venture Exchange Policy. 

Incentive Stock Options: The Company is also pleased to announce that it has granted Incentive Stock Options to directors, officers and employees exercisable to purchase up to an aggregate of 3,000,000 shares for $0.11 per share until May 31st, 2014. The options are non-transferable. Any share issued to "associated consultants" (as that term is defined in B.C. Instrument 45-105) pursuant to the exercise of options held by them will be subject to a four month hold period commencing on the date of grant of the options. Shares issued to other optionees on the exercise of such options will not be subject to a hold period. The grant of options is subject to acceptance by the TSX Venture Exchange.

Adroit Resources Inc. is a mineral exploration company that is currently exploring for Gold, Silver and Antimony in Central Italy and diamonds, precious and base metals in the Temagami/Cobalt and Bancroft areas of Ontario, Canada and oil and gas in Texas, USA. In addition, Adroit is seeking new precious and base metal projects and oil and gas prospects to add to its expanding portfolio. The Company's issued and outstanding share capital is 94,486,716.

On behalf of the Board of Directors

Graeme Rowland, Chairman and President

Note: The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information