January 22nd, 2010
London, England, Arian Silver Corporation (“Arian” or the “Company”) Arian Silver Corporation (“Arian” or the “Company”) is pleased to announce that it has closed the non-brokered private placement previously announced in December 2009.
Jim Williams, Arian Silver Corporation President and CEO commented, “We are pleased and relieved to have the financing in place to move forward on our San Jose property. We have worked hard through the economic meltdown and through what seems to be at least a partial recovery to ensure adequate finance for production. Permits and contracts are in place and I am confident in saying that Arian Silver will be one of the new producer’s in the Zacatecas region.”
The placement has raised Cdn$3,499,857 and comprised 69,997,139 units of the Company (each, a “Unit”) at Cdn$0.05 per Unit (the “Offering”). Each Unit consists of one common share of the Company and one-half of a common share purchase warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof to acquire one common share (each, a “Warrant Share”) for a period of 12 months following from the closing of the placement at an exercise price of Cdn$0.10 per Warrant Share.
The Company paid finder’s fees in the aggregate amount of Cdn$203,935 representing 7% of the gross proceeds raised from subscribers introduced to the Company by its finders. The fees were satisfied by a combination of cash in the amount of Cdn$128,935 and the issuance of Units at the placement price in the amount of 600,000 Units.
The securities issued under the Offering are subject to a hold period expiring on 23 May 2010.
Application has been made for 70,597,139 common shares to be admitted to London’s AIM and it is expected that they will be admitted on 28 January, 2010.
For further information please contact:
Arian Silver Corporation
235-237 Vauxhall Bridge Road
London SW1V 1EJ
Jim Williams - CEO
(London) +44 (0)20 7963 8670 / email: email@example.com
Graham Potts — CFO & Corporate Secretary
(London) +44 (0)20 7963 8670 / email: firstname.lastname@example.org
Grant Thornton UK LLP
(London) +44 (0)20 7383 5100 / email: email@example.com
CHF Investor Relations
(Canada) +1 416 868 1079 Ext. 233 / email: firstname.lastname@example.org
About the Company
Arian Silver Corporation is a silver exploration and development company and is listed on London’s AIM; trades on London’s “PLUS” market; is listed on Toronto’s TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian Silver is active in Mexico, the world’s second largest silver producing country. The Company’s main projects are the Calicanto and San Jose projects in Zacatecas State and the Tepal project in Michoacán State. The Tepal project is currently subject to an exclusive purchase option to Geologix Explorations Inc. Part of Arian Silver’s forward-looking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized structures, which reduces the overall unit operating cost of metals, and to build up NI 43-101 compliant resources.
Further information can be found by visiting Arian’s website: www.ariansilver.com or the Company’s publicly available records at www.sedar.com.
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.
Forward Looking Information
This press release contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, the Company’s expectation to move towards production) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company or events to differ materially from those discussed in the forward-looking statements, and even if such actual results or events are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to achieve production in the short term, risks related to the stage of the Company’s projects, uncertainties related to fluctuations in commodity prices and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.