Adriana Announces Closing of Private Placement With WISCO
TORONTO, ONTARIO -- (Marketwire) -- 02/24/12 -- Adriana Resources Inc. ('Adriana') - (TSX VENTURE: ADI) Further to Adriana's press release issued on January 13, 2012, Adriana has successfully closed the private placement of 972,780 common shares of Adriana at $0.92 per share to WISCO International Resources Development & Investment Limited ('WISCO') pursuant to WISCO's pre-emptive right. The pre-emptive right was granted in connection with the private placement completed on March 23, 2011 to maintain WISCO's current proportionate interest in Adriana. The 972,780 common shares issued through the private placement are subject to a hold period expiring on June 25, 2012.
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
