By Devika Patel
Knoxville, Tenn., Nov. 6 - Arianne Resources Inc. announced that the agents of a C$2 million private placement of units, led by Northern Securities Inc., plan to exercise their 35% over-allotment option. All other terms of the deal, which priced on Nov. 2, remain unchanged.
As previously reported, the company plans to sell up to C$500,000 in common share units at C$0.125 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.15 for two years.
Arianne also will sell up to C$1.5 million in flow-through units at C$0.15 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole warrant is exercisable at C$0.18 for two years.
The new shares will have a four-month hold period.
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$2 million
|
| Greenshoe: | For 35%
|
| Pricing date: | Nov. 2
|
| Agent: | Northern Securities Inc. (lead)
|
| Stock symbol: | TSX Venture: DAR
|
| Stock price: | C$0.13 at close Nov. 1
|
|
|
| Common share units
|
| Amount: | C$500,000
|
| Price: | C$0.125
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
|
|
| Flow-through units
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| Amount: | C$1.5 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
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