Arian increases senior secured convertible loan note to $17.95 million

Quintana notes now mature in 48 months and carry a 12% interest rate

By Devika Patel

Knoxville, Tenn., Sept. 24 – Arian Silver Corp. said it amended the terms of its $16,452,343 senior secured convertible loan note that was sold to Quintana AGQ Holding Co. LLC on Oct. 29.

The note’s principal will be increased by an initial $1.5 million to $17,952,343, with up to an additional $10 million available to the company. The note’s maturity was extended to 48 months and the coupon was set at 12%, payable from January 2017.

The conversion price of the restructured note is expected to be C$0.17 per share.

Arian is a silver mining company based in London.

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