By Laura Lutz
Des Moines, Nov. 21 - Arianne Resources Inc. priced a private placement of flow-through and non flow-through units for up to C$2 million.
The company sold $500,000 non flow-through units at C$0.13 apiece and C$1.5 million flow-through units at C$0.185 apiece.
Each non flow-through unit consists of one non flow-through share and one non flow-through warrant, with each warrant exercisable at C$0.17 for two years.
Each flow-through unit consists of one flow-through share and one half-share non flow-through warrant, with each warrant exercisable at C$0.23 for two years.
Proceeds will be used for work on the company's properties in the Opinaca, Abitibi and Chibougamau regions.
Arianne is a gold and uranium exploration company based in Saguenay, Quebec.
| Issuer: | Arianne Resources Inc.
|
| Issue: | Units of one flow-through share and one non flow-through warrant and units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$2 million
|
| Pricing date: | Nov. 21
|
| Stock symbol: | TSX Venture: DAR
|
| Stock price: | C$0.15 at close Nov. 21
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Price: | C$0.185
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.23
|
|
|
| Non flow-through units
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| Amount: | C$500,000
|
| Price: | C$0.13
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.17
|
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