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Adanac Moly arranges $500,000 placement with Sextant

2006-02-06 14:32 ET - News Release

Mr. Larry Reaugh reports

$500,000 PRIVATE PLACEMENT

Adanac Moly Corp. has negotiated a private placement with Sextant Strategic Opportunities Hedge Fund LP, FundSERV code SCM 101, 200 Bay St., unit 3205, Box 181, Toronto, Ont., to conduct a non-brokered private placement for up to 625,000 units at 80 cents per unit for gross proceeds of $500,000. Each warrant will entitle the holder thereof to acquire one additional common share at 95 cents for two years from closing.

The private placement is subject to the approval of the TSX Venture Exchange.

We seek Safe Harbor.

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