By Devika Patel
Knoxville, Tenn., Dec. 10 - Arian Silver Corp. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 60 million units of one share and one half-share warrant at C$0.05 per unit. The whole warrants are exercisable at C$0.10 each for one year.
Proceeds will be used to advance the San Jose project to production, to repay loans and for general corporate purposes.
Arian is a silver exploration and development company with headquarters in London.
Issuer: | Arian Silver Corp.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$3 million
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Units: | 60 million
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Price: | C$0.05
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.10
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Agent: | Non-brokered
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Pricing date: | Dec. 10
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Stock symbol: | TSX Venture: AGQ
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Stock price: | C$0.055 at close Dec. 9
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