Adriana Announces Notice of Pre-Emptive Right With WISCO
TORONTO, ONTARIO -- (Marketwire) -- 01/13/12 -- Adriana Resources Inc. ('Adriana') - (TSX VENTURE: ADI) Further to Adriana's press release of January 12, 2012, Adriana has provided notice today to WISCO International Resources Development & Investment Limited ('WISCO') of its right to subscribe to 972,780 common shares of Adriana at $0.92 pursuant to its pre-emptive right, granted in connection with the private placement completed on March 23, 2011 to maintain its current proportionate interest in Adriana. Should WISCO exercise its right it is anticipated that the closing would occur on or before the end of February, subject to the receipt of all required approvals, including the approval of the TSX Venture Exchange. Any securities issued to WISCO will be subject to a hold period of 4 months and one day. There is no assurance that WISCO will exercise the pre-emptive right or if exercised, such right will be exercised in full.
ON BEHALF OF ADRIANA RESOURCES INC.
Allen J. Palmiere
President and CEO
Certain information regarding Adriana, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements including, without limitation, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contacts:
Adriana Resources Inc.
Allen Palmiere
President & CEO
apalmiere@adrianaresources.com
Adriana Resources Inc.
Connie Dos Santos
Director, Investor Relations
416-363-2200 ext. 223
cdossantos@adrianaresources.com
www.adrianaresources.com.
