Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, John Wetherill, Ruxit Blog, Hovhannes Avoyan, Elizabeth White

News Feed Item

Adriana Announces Results of the Financial Quarter ended March 31, 2014 and an Update on Lac Otelnuk Project

TORONTO, ONTARIO -- (Marketwired) -- 05/08/14 -- Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE: ADI) today announces that it has filed its condensed consolidated financial statements for the three months ended March 31, 2014 and the related Management Discussion & Analysis on SEDAR.

The Company has cash on hand of $40 million and Lac Otelnuk Mining Ltd. ("LOM") has cash on hand of $10 million as at May 8, 2014. LOM is a joint venture company that holds the Lac Otelnuk Property in Nunavik, Quebec of which Adriana owns 40% and WISCO International Resources Development & Investment Limited owns 60%.

The Company also announces that it will grant stock options on May 12, 2014 to certain directors and officers of the Company entitling them to purchase an aggregate of 925,000 common shares of the Company, pursuant to the Company's Incentive Stock Option Plan approved by the shareholders. Each stock option will entitle the holder thereof to purchase one common share at an exercise price to be determined at the close of the business day on May 12, 2014. The stock options term shall be for a period of five years subject to vesting restrictions over a period of 18 months.

The Feasibility Study for the Lac Otelnuk Project continues to progress and SNC-Lavalin Inc. has been engaged in different phases of the studies since February 2013. Currently, the studies on all components of the project, including the Mine and Process Plant, Product Delivery System, Power Transmission Line and the Port De-watering and Storage infrastructures are all in progress and on schedule. LOM expects the full Feasibility Study to be completed by the end of 2014. It is planned that further environmental baseline data collections, environmental impact and social impact studies on different components of the project, will start after the confirmation of the project feasibility.

ON BEHALF OF ADRIANA RESOURCES INC.

Allen J. Palmiere, President and CEO

Certain information regarding the Company 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. As a consequence, caution should be exercised on placing undue reliance on forward looking information.

Neither 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 press release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in San...
Aria Systems, which helps enterprises grow recurring revenue, today announced that its co-founder and inventor of cloud billing Brendan O'Brien, will be a featured speaker at the Cloud Expo, June 9-11 at The Javits Center in New York. Aria also will be demonstrating its Active Monetization platform in Booth #424 on the Expo Floor. O'Brien will lead the following sessions: June 9 - 11:00 am - 11:35 am, Room 1A16 with participants from Constant Contact, MGI Research and ATG Enabling Complex ...
"For the past 4 years we have been working mainly to export. For the last 3 or 4 years the main market was Russia. In the past year we have been working to expand our footprint in Europe and the United States," explained Andris Gailitis, CEO of DEAC, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today DevOps.com will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Launched in 2014, DevOps.com has quickly established itself as an indispensable resource for DevOps education and community building. DevOps.com make it their mission to cover all aspects of DevOps – philosophy, tools, business impact, best practices and more.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it!
The web app is Agile. The REST API is Agile. The testing and planning are Agile. But alas, Data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes which force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software orga...
IndependenceIT has been selected by nGenx to power Windows-based DaaS and application delivery on Google Compute Engine to support the delivery of GoldMine Cloud software. For independent software vendors (ISVs) like GoldMine, this expands the theater of operations to increase revenue opportunities while reducing software management and maintenance liabilities. IndependenceIT was selected by application and desktop pioneer, nGenx, to deliver its “Bring Your Own Cloud” strategy to GoldMine and o...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
"We are the top stocking distributor for HP renew products in North America. We can only sell to U.S. authorized partners and resellers for HP," explained Miguel Diazdelcastillo Jr., Sales Executive at Creative Business Solutions, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Ulunsoft is a start-up that focuses on how enterprises build cloud-based IT infrastructure for business," explained Haibo Zhu, President of Ulunsoft Corp, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.