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Re: Press Releases - Tuesday, March 17, 2009
ARIAN ANNOUNCES PROPOSAL TO VARY THE TERMS OF OUTSTANDING SHARE
PURCHASE WARRANTS
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LONDON, UNITED KINGDOM--(Marketwire - March 17, 2009) - Arian Silver
Corporation ("Arian" or the "Company") (TSX
VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) announces that it is
proposing to re-price and vary the exercise periods of its outstanding
share purchase warrants (the "Warrants Variation"). The Warrants
Variation is subject to the approval of warrant holders and the TSX
Venture Exchange ("TSXV").
The Company has outstanding:
1. 2,727,250 common share purchase warrants exercisable at Cdn$0.65 per
share and expiring 1 August 2009 (the "B Warrants"); and
2. 6,046,000 common share purchase warrants exercisable at Cdn$0.35 per
share and expiring 29 November 2009 (the "C Warrants").
The Warrants Variation involves:
1. re-pricing 1,363,625 of the B Warrants so that they are exercisable
at Cdn$0.07 per share and varying the exercise period of such warrants
so that they expire on the date that is three months following receipt
by the Company of approval of the Warrants Variation provided that
where the closing price of the common shares of the Company listed on
the TSXV exceeds Cdn$0.0875 for any period of ten (10) consecutive
trading days (the "Premium Trading Days"), the expiry date of the
Warrants shall be accelerated such that the Warrants will expire at
5:00 p.m. (London, United Kingdom time) on the 30th calendar day after
the date which is seven (7) calendar day after the 10th Premium Trading
Day; and
2. re-pricing 1,363,625 of the B Warrants so that they are exercisable
at Cdn$0.10 per share and varying the exercise period of such warrants
so that they expire on 31 December 2009 provided that where the closing
price of the common shares of the Company listed on the TSXV exceeds
Cdn$0.125 for any period of ten (10) consecutive trading days (the
"Premium Trading Days"), the expiry date of the Warrants shall be
accelerated such that the Warrants will expire at 5:00 p.m. (London,
United Kingdom time) on the 30th calendar day after the date which is
seven (7) calendar day after the 10th Premium Trading Day.
3. re-pricing 3,023,000 of the C Warrants so that they are exercisable
at Cdn$0.07 per share and varying the exercise period of such warrants
so that they expire on the date that is three months following receipt
by the Company of approval of the Warrants Variation provided that
where the closing price of the common shares of the Company listed on
the TSXV exceeds Cdn$0.0875 for any period of ten (10) consecutive
trading days (the "Premium Trading Days"), the expiry date of the
Warrants shall be accelerated such that the Warrants will expire at
5:00 p.m. (London, United Kingdom time) on the 30th calendar day after
the date which is seven (7) calendar day after the 10th Premium Trading
Day; and
4. re-pricing 3,023,000 of the C Warrants so that they are exercisable
at Cdn$0.10 per share and varying the exercise period of such warrants
so that they expire on 31 December 2009 provided that where the closing
price of the common shares of the Company listed on the TSXV exceeds
Cdn$0.125 for any period of ten (10) consecutive trading days (the
"Premium Trading Days"), the expiry date of the Warrants shall be
accelerated such that the Warrants will expire at 5:00 p.m. (London,
United Kingdom time) on the 30th calendar day after the date which is
seven (7) calendar day after the 10th Premium Trading Day.
The accelerator applicable to the revised exercise periods is a
requirement of the TSXV.
About the Company
Arian Silver Corporation is a silver exploration and development
company listed on London's AIM and "PLUS", 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 Michoacan State. 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.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained in this release.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7963 8670
Email: jwilliams@ariansilver.com
OR
Arian Silver Corporation
Graham Potts
CFO & Corporate Secretary
(London) +44 (0)20 7963 8670
Email: gpotts@ariansilver.com
Website: www.ariansilver.com
OR
Bishopsgate Communications Limited
Nick Rome
(London) +44 (0)20 7562 3350
Email: Nick.Rome@bishopsgatecommunications.com
OR
Vicarage Capital Limited
Martin Wood
(London) +44 (0)20 7060 1303
Email: martin@vicaragecapital.com
OR
Grant Thornton UK LLP
Gerry Beaney
(London) +44 (0)20 7385 5100
Email: gerry.d.beaney@gtuk.com
OR
CHF Investor Relations
Alison Tullis
(Canada) (416) 868-1079 Ext. 233
Email: Alison@chfir.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
INDUSTRY: Manufacturing and Production-Mining and Metals
SUBJECT: STK
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Copyright (c) 2009 ARIAN SILVER CORPORATION (AGQ) All rights reserved.
For more information visit our website at http://www.ariansilver.com/
or send mailto:info@ariansilver.com
Message sent on Tue Mar 17, 2009 at 6:40:41 AM Pacific Time
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Arian Silver Corporation
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PRODUCER |
CODE : AGQ.V |
ISIN : VGG0472G1063 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arian Silver is a silver producing company based in United kingdom. Arian Silver produces silver, gold, lead and zinc in Mexico, and holds various exploration projects in Mexico. Its main asset in production is SAN JOSÉ ZACATECAS in Mexico and its main exploration properties are SAN CELSO and CALICANTO in Mexico. Arian Silver is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 41.4 millions as of today (€ 39.0 millions). Its stock quote reached its lowest recent point on December 12, 2008 at CA$ 0.03, and its highest recent level on January 07, 2011 at CA$ 8.90. Arian Silver has 318 491 926 shares outstanding. |