Adanac Gains Extension to Creditor Protection
January 19, 2009 - Vancouver, British Columbia
Adanac Molybdenum
Corporation (�Adanac or the Company�, - TSX: AUA, Pink
Sheets: AUAYF, Frankfurt: A9N) announced today that, by Order of the Supreme
Court of British Columbia made Friday, January 16, 2009, all of the relief
granted in the Initial Order made in Adanac's Companies' Creditors Arrangement Act
proceedings on December 19, 2008 has been confirmed, including the stay of
proceedings which has been extended until April 3, 2009.� Further information, including copies of the
December 19, 2008 and January 16, 2009 Orders can be found on the website of
KPMG Inc. at www.kpmg.ca/adanac.
The Initial Order appointed KPMG Inc. as Adanac�s Monitor.
Enquiries may be directed to:
Mr. Mark Kemp-Gee,
KPMG Inc.
777 Dunsmuir Street, PO Box
10426
Vancouver, BC
V7Y 1K3
Telephone: (604) 691-3397
Facsimile: (604) 691-3036
Email: mkempgee@kpmg.ca
About Adanac Molybdenum
Corporation
Adanac Molybdenum Corporation is listed on the
TSX and Frankfurt exchanges and owns the Ruby Creek Project in northern British Columbia.
The Company has advanced the project through feasibility studies, a production
decision and has previously ordered long-lead equipment, completed permitting
for construction, constructed a road to the site and secured US$80 million in
bridge financing. �
Information Contact
Peter R. Jones � Chairman & CEO
Suite 200 � 2055 152 Street, Surrey,
B.C.� V4A 4N7
Telephone: (604) 535-6834��� Facsimile:
(604) 536-8411
Email: info@adanacmoly.com
Cautionary
Notice:� The Reader is cautioned that the full
Cautionary Notice is not attached to this email.� The reader is requested to access the news
release on the Company�s website at www.adanacmoly.com
or at SEDAR at www.sedar.com
to read the full Cautionary Notice.� The
full Cautionary Notice is not attached as the recipient�s spam filters
frequently block receiving emails containing the full Cautionary Notice.