By Laura Lutz
Des Moines, Nov. 15 - Arian Silver Corp. priced a private placement of units for up to C$3.515 million.
The company plans to sell up to 14.06 million units of one share and one warrant at C$0.25 per unit. Each warrant will be exercisable at C$0.42 for one year.
The expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$0.75 for 10 consecutive trading days.
Proceeds of the non-brokered placement will be used to fund work on the company's projects in Mexico and for general corporate purposes.
The company has already received indications of interest from potential subscribers that would satisfy the entire placement.
Arian Silver is a silver mining company with headquarters in Vancouver, B.C.
| Issuer: | Arian Silver Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3.515 million
|
| Units: | 14.06
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.42
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 15
|
| Stock symbol: | TSX Venture: AGQ
|
| Stock price: | C$0.28 at close Nov. 15
|
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