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Adriana Resources closes US$10 million private placement

Fasken
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Overview

Client

Adriana Resources Inc.

On November 19, 2010, Adriana Resources Inc. (TSX VENTURE: ADI) closed the third and final tranche of its previously announced private placement of common shares. Through the private placement, Adriana raised total gross proceeds of $9,999,998.88. Adriana's vision is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and through the advancement of its iron ore projects in Québec, Canada. Fasken Martineau acted counsel to Adriana Resources, with a team that included Nancy Eastman, Brad Freelan, and Michael Shour (corporate/securities).

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