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Trading Symbols
AIM: AGQ
TSX-V: AGQ
FWB: I3A
LONDON, UK, Sept. 24, 2015 /CNW/ - Arian Silver Corporation
(the "Company"), a silver mining company focussed on silver
projects in the silver belt of Zacatecas,
Mexico, announces further to its announcement on
22 September 2015, the following
provisional terms of the restructuring, all of which are subject to
final acceptance of the parties and also the Toronto Venture Stock
Exchange.
Amendment to the loan note
It is envisaged the US$16,452,343
senior secured convertible loan note issued to Quintana AGQ Holding
Co. LLC on 29 October 2014 ("Loan
Note") will be increased by an initial US$1.5 million, with additional amounts up to an
aggregate of US$10 million being
available to the Company under certain terms and conditions. It is
expected that all additional loan notes issued will be on
substantially the same terms as the existing Loan Note.
The maturity date of the Loan Note is expected to be extended to
a date 48 months from the closing date of the transaction and the
effective interest rate set to 12% per annum, payable from
January 2017.
The conversion price of the restructured Loan Note (as described
in the Company's announcement of 22
September 2015), is expected to be C$0.17 per common share.
Share warrants
On 29 October 2014, the Company
issued to Quintana AGQ Holding Co. LLC, 12,151,926 warrants to
purchase shares at C$1.00 each until
29 October 2017. The quantity, price
and term of these warrants is expected to remain unchanged.
Additional amendments are expected to be made to the investment
agreement between the Company and Quintana, full details of which
will be disclosed as appropriate, in due course.
About Quintana Minerals Corporation Group
Quintana San
José Streaming Co. LLC and Quintana AGQ Holding Co. LLC are
subsidiaries of Quintana Resources Holdings LP, a metals and mining
holding company managed by Quintana Resources Capital ULC (QRC).
QRC is a Vancouver-based natural
resources-focused management company with a mandate to identify,
evaluate, finance and manage high quality metals and mining
companies and assets. These companies are all members of the
Houston-based Quintana Minerals
Corporation (QMC) group of companies, which have been in existence
for close to 100 years.
QMC was originally formed as the mining division of Quintana
Petroleum Corp in 1963, and is today the management company for a
portfolio of energy and natural resources-based private and
publicly-traded companies and private equity firms controlled
and/or operated by the Corbin J. Robertson
Jr. family.
The following are examples of some the group's other ongoing
ventures: Great Northern Properties L.P., a private company that
holds over 20 billion tons of coal reserves; Corsa Coal Corp., a
publicly traded junior mining company leading a consolidation
strategy (CSO.V); Quintana Energy Partners, L.P., energy-focused
private equity funds; LKCM Headwater Investments, a generalist
private equity firm focusing on lower middle-market opportunities;
and Quintana Shipping Ltd., the group's 2nd dry bulk shipping
venture.
For more information please visit www.quintanaresources.com
and/or contact Oliver Rodz, Managing
Director of QMC, 601 Jefferson Street, Suite 3600, Houston, Texas 77002 (tel: +1
713-751-7500).
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) and no stock exchange, securities commission
or other regulatory authority accepts responsibility for the
adequacy or accuracy of this release nor approved or disapproved of
the information contained herein.
SOURCE Arian Silver Corporation
