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Arianne Resources Inc.: Arianne Proposes a Share Consolidation to its Shareholders

^{Published on 2009-05-08 13:20:52, Last Modified on 2009-11-02 11:36:09 - Market Wire}
 

SAGUENAY, QUEBEC--(Marketwire - May 8, 2009) - The management of Arianne Resources Inc. ("Arianne" or "company") (TSX VENTURE:DAR)(FRANKFURT:JE9)(OTCBB:DARUF) will seek shareholder approval at its Annual and special meeting of shareholders to be held on June 11, 2009, to consolidate its common shares at a ratio of one (1) new share for each tranche of five (5) outstanding common shares. In order to be effective, the consolidation resolution must be approved by at least two third of the shareholder votes cast at the Meeting and be accepted by the TSX Venture Exchange.

Management believes that in the current difficult economic environment, having less shares outstanding will facilitate the future financings necessary to continue the development of the Company. Arianne now has 105,591,499 common shares outstanding. If the consolidation is approved, the Company will have approximately 21,118,300 common shares outstanding. The Company will not change its name but would have a new stock symbol.

Arianne Resources is a Canadian exploration company with the primary mission to explore, find and develop gold, silver and phosphorus deposits in Canada and Mexico.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.