Saguenay, October 29, 2010. The management of Arianne Resources Inc. (DAN-V) (« Arianne ») is pleased to announce the completion of a non-brokered financing for an amount of $581,000.
Arianne will issue 581 Units at a cost of $1,000 per Unit, each Unit including 5,333 flow-through common shares at a price of $0.15 per share, 1,538 common shares at a price of $0.13 per share and 3,435 share purchase warrants. Each warrant allows for the purchase of one common share at a price of $0.20, for a period of 24 months following TSX approval. 2 Company insiders purchased 8 Units.
The new shares are subject to a four-month minimum hold period and are subject to the approval of the TSX Venture Exchange.
In regards with this financing, a $40,010 commission was paid to four non-related parties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.