ZADAR CLOSES NON-BROKERED PRIVATE PLACEMENT
ZAD TSX-V ZADDF-OTC ZAV.F
August 4, 2016 - Vancouver, British Columbia. Zadar Ventures Ltd. (the 'Company') (TSX-V:ZAD) is pleased to announce that the Company has received approval from the TSX Venture Exchange to close the non-brokered private placement previously announced on July 27, 2016. The Company has issued 5,000,000 units at a price of $0.10 per unit for gross proceeds of $500,000 (the 'Offering'). Each unit consists of one common share and one half of one common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant will be exercisable into one common share of the Company at a price of $0.25 per share for a period of one year.
The Company will use the net proceeds of the Offering for exploration and development on the Ravensthorpe property in South Western Australia, the WSP and CR lithium projects in North Clayton Valley, Nevada and for general working capital.
The Company paid cash finder's fees of $26,000 and issued 260,000 finder's warrants in connection with the Offering. Each finder's warrant entitles the holder to acquire one common share in the Company at an exercise price of $0.25, until August 4, 2017.
All securities issued under the Offering are subject to a hold period of four months plus one day in accordance with applicable securities laws.
Zadar Ventures Ltd. is a resource company focused on the acquisition and exploration of economically viable green energy resources in jurisdictions favorable to mining and industry. The Company's flagship Clayton Valley project is located directly adjacent to the Albemarle Silver Peak lithium project, which contains North Americas only producing lithium mine. For more information we invite you to visit the Company's website at www.zadarventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
Paul D. Gray
President and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.