By Laura Lutz
Des Moines, Aug. 2 - Arian Silver Corp. settled a private placement of units for C$2,999,975.
The company sold 5,454,500 units of one share and one half-share warrant at C$0.55 per unit. Each whole warrant will be exercisable at C$0.65 for two years.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$1.40 for any 10 consecutive trading days.
The deal was announced Thursday morning and settled later in the day.
Proceeds will be used for work on the company's project in Mexico and for general corporate purposes.
Arian is a silver exploration and development company with headquarters in London.
| Issuer: | Arian Silver Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,999,975
|
| Units: | 5,454,500
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Settlement date: | Aug. 2
|
| Stock symbol: | London: AGQ
|
| Stock price: | 24.5p at close Aug. 2
|
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