LONDON, ENGLAND--(Marketwired - Aug. 29, 2014) - Arian Silver Corporation (the "Company" or "Arian Silver") (TSX VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, reports that discussions to fully fund the Company's flagship San José silver project continue to progress positively.
In August 2013, the Company entered into a 12 month US$15.6 million loan facility with Platinum Long Term Growth VIII, LLC ("Platinum" or the "Lender"), convertible at the Lender's option at C$1.10 per share ("Convertible Note"). The Lender has confirmed their continued support of the Company and its funding strategy, extending the maturity date of the Convertible Note to 30 September 2014 for consideration of US$350,000. This extension to the Convertible Note has been approved by the Toronto Venture Stock Exchange.
The Company is in the process of finalising terms to fully fund the San José project for the foreseeable future and information regarding the new lender and terms of the financing package will be announced upon the conclusion of negotiations.
A further announcement regarding the Company's operational progress will be made in the Company's Q2 results announcement.
Full details regarding the loan facility with Platinum were announced on 2 September 2013 and are available from the Company's website at www.ariansilver.com/s/NewsReleases.asp.
For further information please see www.ariansilver.com.
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 the El Bote custom processing plant. The Company is in the process of reassembling the plant, which is expected to begin commissioning 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.
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.