Adira Energy Ltd. has arranged a non-brokered private placement of US$60,000 through the issue of 1,200,000 common shares of the Company (each, an "Offering Share") at a price of US$0.05 per Offering Share (the "Offering").

The closing of the Offering is expected to occur on or about July 23, 2014. The securities issued under this private placement will be subject to a statutory four month and one day hold period and the net proceeds will be used for working capital purposes. Completion of the Offering is subject to the receipt of all required regulatory approvals, including acceptance by the TSX Venture Exchange.

Tags: Adira Energy Ltd.