By Susanna Moon
Chicago, June 8- Adriana Resources Inc. plans to raise C$2.5 million in a private placement to one investor, Patriarco Holdings Ltd., with an issuance of 2,272,727 shares at a price of C$1.10 per share, according to a press release.
The placement represents 14.4% of the company's outstanding common shares.
The proceeds will be used for working capital and for exploration projects.
The placement is non-brokered.
Adriana is a mineral exploration and development company based in Vancouver, B.C.
Issuer Adriana Resources Inc.
| Issue: | Stock
|
| Amount: | C$2.5 million
|
| Shares: | 2,272,727
|
| Price: | C$1.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Patriarco Holdings Ltd.
|
| Announcement date: | June 7
|
| Stock symbol: | TSX Venture: ADI
|
| Stock price: | C$1.06 at close June 7
|
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