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Adriana Resources Inc.

Published : September 18th, 2009

Engages Investor Relations Specialists & Grants Incentive Stock Options Under New Option Plan

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Keywords :   Brazil | Canada | Growth | Iron | K Street | Market | Volatility |

 
Adriana Engages Investor Relations Specialists & Grants Incentive Stock Options Under New Option Plan

Adriana Resources Inc. ("Adriana" or the "Company") - (TSX-V: ADI) announces that it has entered into an agreement to retain the services of Linear Capital Corp. ("Linear") to provide an investor relations and market development program for the Company.

Linear was founded in 1998 to partner with emerging growth companies and provide an array of corporate finance and consulting services to facilitate the achievement of growth objectives, satisfy financing requirements, and accelerate the process of developing shareholder value.

Linear is based in Toronto and registered with the Ontario Securities Commission as a limited market dealer, and is arms' length to the Company. For additional information on Linear, please visit their website at www.linearcapital.com.

Linear will receive an aggregate of $57,000 in fees over the term of their contract. In addition, Linear has been granted 250,000 stock options with a term of three years, vesting 25% on a quarterly basis over twelve months and with an exercise price of $0.46 per share. The stock option grant to Linear is subject to approval of the New Plan by the shareholders of the Company and by the TSX Venture Exchange (the "TSXV").

"We are pleased to be working with Linear as part of our market and investor relations development strategy. With its track record of providing strategic marketing advice, Linear will enable us to expand our communications to increase investor awareness," said Allen Palmiere, CEO of Adriana.

New Stock Option Plan

The Company also announces that in order to retain and attract key management, the Board of Directors of the Company has approved a new Stock Option Plan (the "New Plan") which is subject to approval by the shareholders of the Company at the next shareholders' meeting. The New Plan is also subject to approval by the TSXV.

Pursuant to the New Plan, the Board of Directors may, from time to time, authorize the grant of stock options to directors, officers, employees, and consultants of the Company and its subsidiaries. The maximum number of common shares which may be issued pursuant to options granted under the Plan is 9,452,032 common shares in the capital of the Company, (equivalent to 13% of the currently outstanding shares of the Company), including stock options currently existing outside the Plan which are exercisable to purchase up to 7,155,000 common shares of the Company and which shall, upon TSXV and shareholder approval of the New Plan, be included under the New Plan.

It is the Company's intent to revise the Plan as soon as practicable, such that the number of shares issuable under the Plan would be a maximum of 10% of the number of outstanding common shares of the Company.

The Plan provides that the number of shares which may be reserved for issuance to any one individual may not exceed 5% of the issued shares of the Company in a 12-month period, and any options granted to any consultant may not exceed 2% of the issued shares of the Company in a 12-month period.

The number of shares under option from time to time and the exercise price of such options, and any amendments thereto, is determined by the directors in accordance with the policies of the TSXV.

Subject to the approval of the New Plan by the shareholders of the Company and the TSXV, the Company has granted to an officer of the Company incentive stock options to purchase up to 1,000,000 common shares in the capital stock of the Company. The options have a term of five years, can be exercised at a price of $0.46 per share and vest over a period of 18 months.


Adriana's goal 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 the advancement of the Lac Otelnuk Iron Project in Qu�bec, Canada.

For more information, contact Lenny Foreht (lforeht@linearcapital.com) or John Lewis (jrlewis@linearcapital.com), Linear Capital Corp. (416) 364-2266 / toll free (877) 954-6327, or Robert Ferguson at + 1 (604) 629-0250 / toll free +1 (877) 629-0150, or visit the Company's website at www.adrianaresources.com.

ON BEHALF OF ADRIANA RESOURCES INC.

"Allen J. Palmiere"

President and CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

You can also view this News Release on our website at:
http://www.adrianaresources.com/s/NewsReleases.asp?ReportID=364001


Suite 1580, One Bentall Centre
505 Burrard Street, Box 72
Vancouver, BC
Canada V7Y 1C6

Telephone: 604.629.0250
Fax: 604.629.0923
Toll Free: 877.629.0150
Email:
info@adrianaresources.com


(TSX-V: ADI)


Sep 17, 2009: News Releases: Adriana Engages Investor Relations Specialists & G... (more...)

Aug 18, 2009: News Releases: Adriana Grants Incentive Stock Options (more...)

Aug 17, 2009: News Releases: Adriana Announces Approval Of Amended Arcelormitta... (more...)

Jul 24, 2009: News Releases: Adriana Enters into Memorandums of Understanding w... (more...)

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Data and Statistics for these countries : Brazil | Canada | All
Gold and Silver Prices for these countries : Brazil | Canada | All

Adriana Resources Inc.

EXPLORATION STAGE
CODE : ADI.V
ISIN : CA00735P1062
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Adriana Res. is a iron development stage company based in Canada.

Adriana Res. holds various exploration projects in Brazil, in Canada and in Finland.

Its main exploration properties are MUSTAVAARA in Finland, BRAZORE LTDA and MACKENZIE IGNEOUS EVENT in Brazil and UNAD JV in Canada.

Adriana Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.5 millions as of today (US$ 4.4 millions, € 3.9 millions).

Its stock quote reached its highest recent level on May 05, 2006 at CA$ 2.03, and its lowest recent point on September 29, 2022 at CA$ 0.04.

Adriana Res. has 157 554 238 shares outstanding.

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Annual reports of Adriana Resources Inc.
2008 Annual Report
Annual Report 2007
Financings of Adriana Resources Inc.
5/22/2011Continues Negotiations
2/15/2011Announces Signing $28 Million Private Placement With WISCO
12/31/2009Announces Flow-Through Private Placement Closing
12/17/2009Announces C$4 Million Flow-Through Financing and New Chairma...
11/15/2007Announces $30 Million Private Placement
Option Grants of Adriana Resources Inc.
9/18/2009Engages Investor Relations Specialists & Grants Incentive St...
8/19/2009Grants Incentive Stock Options
6/16/2009Grants Incentive Stock Options
6/26/2008Grants Incentive Stock Options
Nominations of Adriana Resources Inc.
4/9/2013The Company Appoints a Director, Metallurgical
3/11/2013Announces Resignation of a Director of the Company
2/4/2013The Company Appoints a Director, Environment and Sustainabil...
7/20/2009Appoints Allen J. Palmiere to Board of Directors
11/20/2008Appoints Director of Port Development for Brazil Operations
6/25/2008Appoints Joseph Fodor as Executive Vice President
5/16/2008Appoints Michael Petrina Vice President Operations
4/2/2008Appoints Paul Yeou to the Board of Directors
Project news of Adriana Resources Inc.
10/23/2013(Lac Otelnuk)The Company Awards Feasibility Study Contract for Lac Otelnu...
8/15/2013(Lac Otelnuk)on Corporate Position And Progress on Lac Otelnuk Project
10/22/2012(Lac Otelnuk)Provides Project Update for Lac Otelnuk
3/20/2011(Lac Otelnuk)Announces Assay Results
1/17/2011(Lac Otelnuk) Adriana Announces Strategic Partnership with WISCO
2/12/2009(Lac Otelnuk)Confirms Lac Otelnuk Iron Deposit Over 22.5 Square Kilometre...
1/29/2009(Lac Otelnuk)Commences Resource Estimate at Lac Otelnuk Iron Project
11/25/2008(Lac Otelnuk)Completes 2008 Exploration Program At Lac Otelnuk Iron Proje...
7/9/2008(Lac Otelnuk)Drills 1,730 Meters at Lac Otelnuk; Completes Geophysics on ...
6/4/2008(Lac Otelnuk)Commences 2008 Diamond Drill Program on the Company's 100% O...
5/29/2008Reaches Milestone in Brazil Port Permitting
4/3/2008(Lac Otelnuk)Reports Results at Lac Otelnuk - Drills 95.8m of 30.4% Fe
2/19/2008(Lac Otelnuk)Announces Update on Lac Otelnuk Drill Program
1/10/2008(Brazore Ltda) Completes Purchase of Brazilian Port Land; Achieves First P...
Corporate news of Adriana Resources Inc.
5/30/2016Adriana Files Financial Statements for the Quarter Ended Mar...
5/9/2016Adriana Provides Shareholder Update
4/1/2016Adriana Announces Change Of Director And Change Of CFO
3/31/2016Adriana Announces Change of Director and Change of CFO
2/26/2016Adriana Files Annual Financial Statements Ended December 31,...
1/4/2016Adriana Funds the Lac Otelnuk Joint Venture beyond 2020
11/6/2015Adriana Files Third Quarter Financial Statements Ended Septe...
8/6/2015Adriana Files Second Quarter Financial Statements ended June...
4/23/2015Adriana announces that it has filed a NI 43-101 Technical Re...
4/23/2015Adriana announces completion of the Feasibility Study on the...
4/22/2015Adriana Announces Completion of the Feasibility Study on the...
3/6/2015Vista Partners Publishes March 2015 Macroeconomic & Investme...
2/26/2015Adriana Files Financial Statements for the Year Ended Decemb...
2/6/2015Vista Partners Publishes February 2015 Macroeconomic & Inves...
11/6/2014Adriana Files Third Quarter ended September 30, 2014
10/21/2014Adriana Announces its Participation in Feasibility Study for...
9/18/2014Adriana Grants Incentive Stock Options
8/8/2014Adriana Files Second Quarter Ended June 30, 2014
7/3/2014Vista Partners Publishes July 2014 Macroeconomic & Investmen...
6/17/2014Adriana Grants Incentive Stock Options
5/8/2014Adriana Announces Results of the Financial Quarter ended Mar...
4/4/2014Vista Partners Publishes April 2014 Macroeconomic & Investme...
10/30/2013Announces Completion of Mineral Resource Estimate
4/13/2011(Lac Otelnuk)Announces Positive Preliminary Economic Assessment on Lac Ot...
1/25/2011Adriana Res. announces grant of 947.500 incentive options at...
12/1/2009BNN - Chinese Demand For Iron Ore - Interview with Adriana C...
11/25/2009Announces Management and Board Changes
8/17/2009Announces Approval Of Amended Arcelormittal Convertible Debe...
7/24/2009Enters into Memorandums of Understanding with a Major Chines...
6/1/2009ArcelorMittal Extends Port Agreement with Adriana
3/9/2009& Stock Research Portal
1/6/2009Arcelormittal Extends Port Agreement with Adriana
11/12/2008Goldbard Cancels Agreement to Acquire MIE Metals Corp.
11/5/2008Iron sector hit by global slowdown
9/12/2008Closes $10 Million Financing
9/10/2008Goldbard Enters Agreement to Acquire MIE Metals Corp.
8/25/2008featured in the Globe and Mail
8/20/2008Partners With ArcelorMittal
8/11/2008Announces $2 Million Financing
7/2/2008We're Moving!
6/20/2008featured in Global Mining Finance
5/9/2008 Shareholders Approve Shareholder Rights Plan
5/9/2008Announces Dr. Anthony Patriarco Joins Board of Directors
4/8/2008 Adopts Shareholder Rights Plan
3/25/2008 Acquires Labrador Trough Iron Prospect
2/20/2008 Signs Letter of Intent with Makivik Corporation
2/14/2008Announces Brazilian Iron Ore Focus and Project Spin-Out
1/15/2008 Announces Conversion of Convertible Debentures
11/22/2007 Closes First Tranche of $30 Million Financing; Exercises Po...
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TSX-V (ADI.V)OTHER OTC (ANARF)
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