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Adriana Resources to raise $2.71-million privately
2006-05-17 08:30 ET - News Release

Mr. Michael Beley reports

ADRIANA ANNOUNCES PRIVATE PLACEMENT

Adriana Resources Inc. has arranged, subject to regulatory approval, a non-brokered private placement for proceeds of $2,712,905. The private placement consists of 2,086,850 units priced at $1.30 per unit. Each unit consists of one common share and one-half warrant. Each whole warrant is exercisable for a period of one year from closing to acquire one common share at a price of $1.75 per share. The shares and warrants underlying the units will be subject to hold periods in accordance with TSX Venture Exchange policies and applicable securities laws. The company anticipates paying finder\'s fees on funds sourced to eligible finders, in respect of certain units placed under the financing. Insiders are purchasing 30,000 units of the private placement. Proceeds of the financing will be used for continued exploration of the company\'s mineral properties in Nunavut and Quebec. The proceeds are also for general working capital.
 
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Autor (Datum des Eintrages): Karlimage  (17.05.06 18:51:53)
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