By Sheri Kasprzak
New York, May 17 - Adriana Resources Inc. priced a C$2,712,905 private placement.
The non-brokered offering includes up to 2,086,850 units at C$1.30 each.
Each unit is comprised of one share and one half-share warrant. The full warrants are exercisable at C$1.75 each for one year.
Proceeds will be used for exploration on the company's properties in Nunavut and Quebec. The rest will be used for working capital.
Adriana, based in Vancouver, B.C., is a mineral exploration company.
| Issuer: | Adriana Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,712,905
|
| Units: | 2,086,850
|
| Price: | C$1.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | May 17
|
| Stock symbol: | TSX Venture: ADI
|
| Stock price: | C$1.52 at close May 16
|
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