CHICOUTIMI, CANADA, Dec. 14, 2010 (Marketwire) -- Arianne Resources Inc. ("Arianne" or the "Company") (TSX VENTURE:DAN)(FRANKFURT:JE9N)(OTCBB:DRSSF) is pleased to announce the completion of its previously announced private placements for aggregate gross proceeds of $2,133,979.48. In total, Arianne issued 3,299,886 flow-through shares at a price of $0.18 per share and 11,000,000 units at a price of $0.14 per unit. Each unit is comprised of one (1) common share and one half (1/2) of a common share purchase warrant, each full warrant entitling the holder to subscribe for one (1) common share at a price of $0.19 per share until December 13, 2012.
In these financings, insiders of the Company have subscribed for aggregate gross proceeds of $50,499.62 and members of the pro group have subscribed for aggregate gross proceeds of $9,000.
The Company paid a cash commission of $170,718.36 in relation to these private placements and issued 1,143,990 non transferable share purchase warrants exercisable at a price $0.14 per share until December 13, 2012. All securities issued pursuant to the private placements are subject to a mandatory hold period of four (4) months ending April 14, 2011.
The proceeds of the private placements, combined with existing working capital, will be used by the Company primarily to further the exploration program on its Lac a Paul phosphate property and for general working capital.
Arianne Resources is a Canadian mining exploration company with the mission to explore, find and develop gold, silver and phosphorus deposits in Canada and Mexico. Investors are welcomed to visit our website at www.arianne-inc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mr. Bernard Lapointe, CEO
Mr. Norman Forrest, Director