TSX Venture Requires Arianne Resources to Amend Price of Warrants

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Arianne Resources Inc. (TSXV:DAN) announced an amendment to its warrant re-pricing and extension plan. The Company had to amend the 4,000,000 common share purchase warrants that were issued as part of its April 2011 private placement.

Arianne Resources Inc. (TSXV:DAN) announced an amendment to its warrant re-pricing and extension plan. The Company has to amend the 4,000,000 common share purchase warrants that were issued as part of its April 2011 private placement as requested by the TSX Venture Exchange.

As quoted in the press release:

The TSX Venture Exchange asked Arianne to amend the exercise price of the Warrants for the higher of: (i) $1.19 (the price that was set on March 20, 2013 upon the announcement of the Warrant Re-pricing and Extension Plan) and (ii) a price equal to the 10-day average of the closing price of Arianne’s shares on the TSX Venture Exchange from March 22, 2013. Accordingly, the new exercise price of the Warrants is $1.24. The other terms and conditions of the Warrants remain as announced on March 20, 2013.

Click here to read the Arianne Resources Inc. (TSXV:DAN) press release

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