Agent Windermere Capital helps raise funds for property exploration
By Devika Patel
Knoxville, Tenn., April 6 - Arianne Resources Inc. said it arranged a private placement of stock. The C$9.25 million best-efforts offering will be conducted through agent Windermere Capital (Canada) Inc. and is expected to settle April 29.
The company will sell 8 million units at C$1.00 per unit and 1 million flow-through shares at C$1.25 apiece. The price per share reflects a 12.61% premium to the April 5 closing share price of C$1.11.
Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$1.50 for two years. The strike price is a 35.14% premium to the April 5 closing share price.
Proceeds will be used to explore and develop properties and for general working capital.
Based in Chicoutimi, Quebec, Arianne explores for phosphorus-titanium deposits, Dulain white marble deposits, Boilleau Quartzite deposits, Moly Hill deposits and Mirepoix phosphorus-titanium, as well as gold, silver and base metals.
| Issuer: | Arianne Resources Inc.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$9.25 million
|
| Agent: | Windermere Capital (Canada) Inc.
|
| Pricing date: | April 6
|
| Settlement date: | April 29
|
| Stock symbol: | TSX Venture: DAN
|
| Stock price: | C$1.11 at close April 5
|
| Market capitalization: | C$32.23 million
|
|
|
| Shares
|
| Amount: | C$1.25 million
|
| Shares: | 1 million
|
| Price: | C$1.25
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$8 million
|
| Units: | 8 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
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