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| Home : Adriana Announces Closing of $28 Million Private Placement With WISCO |
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Mar 24
2011 |
Adriana Announces Closing of $28 Million Private Placement With WISCO |
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TORONTO, ONTARIO--(Marketwire - March 23, 2011) - Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI) is pleased to announce that as contemplated in the Framework Agreement (the "Framework Agreement"), previously announced on January 17, 2011, it has closed the private placement (the "Private Placement") with WISCO International Resources Development & Investment Limited ("WISCO") of 29,243,700 Common Shares of the Company ("Common Shares") at a price of $0.97 per share for aggregate proceeds of $28,366,389 representing 19.9% of the issued and outstanding shares, on a post issuance basis, of the Company. On closing of the Private Placement, the Company will pay a finder's fee in the amount of $1,985,647. All securities issued pursuant to the Private Placement are subject to a four-month hold period from the date of the closing. |
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| Source:http://www.marketwire.com/mw/release.do?id=1416413&sourceType=3 |
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