Arian Silver Corporation (“Arian Silver” or the “Company”) is pleased to announce that it has raised £600,000, 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 new common share at a price of 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 proceeds of the Placing to further advance exploration of its mining concessions in Zacatecas, Mexico, and specifically to further seek and assess the prospect of acquiring additional lithium projects, some of which are currently being negotiated, as previously stated.
Jim Williams, Chief Executive Officer of Arian Silver, commented, “this additional capital can be immediately deployed to extend the exploration of the three lithium projects over which we have an option to acquire, and also to seek additional projects in the vicinity which we believe could host significant deposits 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 27 July 2017.
Following Admission and assuming no exercise of share options or warrants prior to that date, the Company will have 423,694,941 common shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 423,694,941 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|
Jim Williams, CEO
David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599
|Northland Capital Partners Limited|
Gerry Beaney / David Hignell / Jamie Spotswood
Tel: +44 (0)203 861 6625
|Beaufort Securities Limited|
Tel: +44 (0)20 7382 8300
|Yellow Jersey PR Limited|
Charles Goodwin / Harriet Jackson
Tel: +44 (0)7747 788 221