By Devika Patel
Knoxville, Tenn., May 29 - Arian Silver Corp. said it raised C$3.02 million in a non-brokered private placement of units. The deal priced for C$3 million on April 24, and the company amended its terms on May 6.
Arian sold 12,092,000 units at C$0.25 each.
The company had planned to sell 12 million units at that price. It originally had planned to sell 10 million units at C$0.30 each.
Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.35, decreased from the original C$0.40 strike price, 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$3,023,000
|
| Shares: | 12,092,000
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | April 24
|
| Amended: | May 6
|
| Settlement date: | May 29
|
| Stock symbol: | TSX Venture: AGQ
|
| Stock price: | C$0.305 at close April 23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
