By Devika Patel
Knoxville, Tenn., April 24 - Arian Silver Corp. said it will conduct a non-brokered private placement of units for C$3 million.
The company will sell 10 million units at C$0.30 each. Each unit will consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.40 for 18 months.
The warrants may expire sooner if the company's shares close at C$0.65 or higher for 20 consecutive trading days. In that case, the warrants will expire 30 days after the company notifies holders.
Proceeds will be used to fund work programs on the company's projects in Mexico as well as for general corporate purposes.
Arian is a silver exploration and development company with headquarters in London.
| Issuer: | Arian Silver Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Shares: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | April 24
|
| Stock symbol: | TSX Venture: AGQ
|
| Stock price: | C$0.305 at close April 23
|
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