By Devika Patel
Knoxville, Tenn., Aug. 18 - Arianne Resources Inc. announced that it plans to conduct a C$1.5 million private placement of units.
The company will sell up to C$500,000 in common share units at C$0.06 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.08 for two years.
Arianne also will sell up to C$1 million in flow-through units at C$0.075 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole warrant is exercisable at C$0.09 for two years.
Northern Securities Inc. is the agent and has a greenshoe for 50% of the offering amount.
Proceeds will be used to increase the resources calculation in the titanium/phosphorus deposit of Lac a Paul, Quebec.
Arianne is a gold and uranium exploration company based in Saguenay, Quebec.
| Issuer: | Arianne Resources Inc.
|
| Issue: | Units of one common share and one warrant and units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Greenshoe: | 50%
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Aug. 18
|
| Stock symbol: | TSX Venture: DAR
|
| Stock price: | C$0.07 at close Aug. 15
|
|
|
| Common share units
|
| Amount: | C$500,000
|
| Price: | C$0.06
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.08
|
|
|
| Flow-through units
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| Amount: | C$1 million
|
| Price: | C$0.075
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.09
|
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