October 9th, 2014
Arian Silver Corporation (the “Company”) a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, reports that the Company has drawn down GBP 60,265 of its GBP 5 million Standby Equity Distribution Agreement (“SEDA”) with YA Global Master SPV Ltd (“YA”), as announced by the Company on 27 September 2012.
Under the terms of the SEDA, the Company has allotted, conditional on admission, 224,653 Common Shares of no par value to YA at a price of GBP 0.268258 per share. This price is calculated under the terms of the SEDA.
The proceeds will contribute to working capital and other costs in the short-term whilst the Company concludes its financing discussions.
An application has been made to the London Stock Exchange for 224,653 Common Shares to be admitted to trading on AIM and it is expected that admission will occur at 8.00 a.m. on 15 October 2014. The new Common Shares will rank pari passu in all respects with the existing Common Shares. GBP 2,067,313 remains available to the Company under this SEDA.
Following this share issue the Company will have in issue 33,907,448 Common Shares on a post-consolidation basis, with voting rights.
For further information please see www.ariansilver.com or contact:
|Arian Silver Corporation
Jim Williams, CEO
David Taylor, Company Secretary
(London) +44 (0)20 7887 6599
|Hume Capital, Broker
Jon Belliss / Abigail Wayne
(London) +44 (0)20 7101 7070
|Grant Thornton UK LLP
Philip Secrett / David Hignell
(London) +44 (0)20 7383 5100
|Yellow Jersey PR Limited
(London) +44 (0)7768537739
Notes to editors
Arian Silver is a silver exploration, development and production company with a focus on projects in Zacatecas, within the silver belt of Mexico, the world’s most productive silver district.
Arian Silver’s flagship San José silver project comprises the San José underground mine (Ag, Pb, Zn) and its custom processing plant. The Company is in the process of refurbishing, transporting and constructing the plant, which is expected to be commissioned by the end of 2014.
Full details of the Company’s NI 43-101 compliant mineral resource estimate are available from www.ariansilver.com/s/Sanjose.asp.
This press release contains certain “forward-looking information”. 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. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions (including that the Company will be able to obtain the necessary financing). Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, 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, but are not limited to, the failure to raise the necessary financing, as well as unexpected delays in completing the transportation and refurbishment of the processing plant which could lead to unexpected delays in the start of operations and delays in the Company’s mine expansion plans.
Any forward-looking information 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 information, 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 information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
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.