Arian Silver Corp Placing to raise GBP600,000
25 May 2017 - 4:00PM
UK Regulatory
TIDMAGQ
ARIAN SILVER
Trading Symbols
AIM: AGQ
FWB: I3A
25 May 2017
Placing to raise GBP600,000
Arian Silver Corporation ("Arian Silver" or the "Company") is pleased to
announce that it has raised GBP600,000, before expenses, through the placing of
120 million units ("Units") of 0.5p each ("the Placing") through its broker
Beaufort Securities Limited ("Beaufort").
Each Unit comprises one new common share ("Placing Share") and one new share
warrant ("Warrant"), which entitles the holder to subscribe for one Share at
0.6p. 12 million Warrants will be issued to Beaufort, each at an exercise price
of 0.6p. The expiry date of each Warrant will be two years from the date of
admission of the Placing Shares to trading on AIM.
The Company intends to use the net proceeds of the Placing to advance
exploration of its mining concessions in Zacatecas, Mexico, and specifically to
seek and assess the feasibility of additional lithium acquisitions, some of
which are currently being negotiated as previously announced.
Jim Williams, Chief Executive Officer of Arian Silver, commented, "The
continuing support of our investors has made it possible to once again
strengthen our balance sheet and puts the Company in a stronger position to
progress not only our silver projects but perhaps more importantly, given the
current price and demand, our lithium assets. To fully evaluate our current
lithium options requires exploration methods that have not been financially
viable for us, until now. We believe greater lithium concentrations occur
deeper within the salars and the results so far obtained from the surface
exploration are merely indicative of the presence of lithium."
The Placing is conditional on the Shares being admitted to trading on AIM
("Admission"). Application will be made to the London Stock Exchange for the
120,000,000 Shares to be admitted to trading on AIM. Admission of the Placing
Shares is expected to become effective at 8:00am on or around 9 June 2017.
Following Admission and assuming no exercise of Warrants, the Company will have
303,694,941 common shares of no par value in issue. The Company has no shares
in treasury, therefore the figure of 303,694,941 should be used by shareholders
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change of their interest in, the
share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.
For further information please contact:
Arian Silver Corporation Northland Capital Partners Limited
Jim Williams, CEO Gerry Beaney / David Hignell
David Taylor, Company Secretary Tel: +44 (0)203 861 6625
Tel: +44 (0)20 7887 6599
OR
OR
Beaufort Securities Limited Yellow Jersey PR Limited
Jon Belliss Dominic Barretto
Tel: +44 (0)20 7382 8300 Tel: +44 (0)7768 537 739
END
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