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Re: Press Releases - Monday, October 25, 2010
Arian Silver Completes GBP3.9 Million Brokered and Non-Brokered
Placement
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LONDON, ENGLAND--(Marketwire - Oct. 25, 2010) - Arian Silver
Corporation ("Arian" or the "Company") (TSX
VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration,
development and production company with a focus on projects in the
silver belt of Mexico, is pleased to announce the closing of the
brokered and non-brokered placement (the "Placement") previously
announced on 18 October 2010.
Jim Williams, Arian's President and CEO commented, "The funds raised
today will enable Arian to proceed with its objective of advancing the
drilling programme at its 100%-owned and producing San Jose mine. Funds
will also be used towards the purchasing of plant and equipment as well
as upgrades to infrastructure in relation to the contract mining and
milling operation at San Jose. The mill improvements will increase our
throughput and silver recoveries and leading to increasing cash flows
at a time when commodity fundamentals are very strong."
The Placement has raised gross proceeds of �3,888,800 and comprised
21,604,435 common shares of the Company at 18p per common share.
Subscriptions in respect of the brokered portion of the Placement
amounted to �3,115,000 for 17,305,547 common shares. These common
shares are subject to a restriction to the effect that they cannot be
sold, transferred, hypothecated or otherwise traded on or through the
facilities of the TSX Venture Exchange or otherwise in Canada or to or
for the benefit of a Canadian resident prior to 26 February 2011.
Sprott Asset Management ("Sprott"), an insider of the Company, has
subscribed �773,800 on behalf of funds it manages, for 4,298,888 common
shares in respect of the non-brokered portion of the Placement. These
common shares are subject to a hold period expiring on 26 February
2011.
Admission of the Placement common shares to trading to the AIM of the
London Stock Exchange will take place at 8.00 am today.
Following Admission, the Company will pay XCAP Securities Plc a fee of
�194,440, to be settled in cash.
The participation of Sprott in the Placement constitutes a "related
party transaction" under Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions ("MI 61-101") of the
Canadian Securities Administrators, but the Company is exempt from both
the formal valuation and minority shareholder approval requirements of
MI 61-101 in connection with the placement as neither the fair market
value of the securities issued, nor the consideration for such
securities, in so far as it involves the interested party, does not
exceed 25% of the Company's market capitalization as calculated
pursuant to MI 61-101.
For purposes of the AIM Rules, Sprott is classified as a Substantial
Shareholder in the Company. As such, its participation in the Placement
constitutes a Related Party Transaction. The directors of the Company,
having consulted with Grant Thornton Corporate Finance, consider the
terms of Sprott's participation in the Placement to be fair and
reasonable so far as the shareholders are concerned.
As a result of the Placement, the Company has in issue 267,772,742
common shares, with voting rights.
For more information, please contact:
Arian Silver Corporation
Carlyle House
235-237 Vauxhall Bridge Road
London SW1V 1EJ
England
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7963 8670
jwilliams@ariansilver.com
Arian Silver Corporation
Graham Potts
CFO & Corporate Secretary
(London) +44 (0)20 7963 8670
gpotts@ariansilver.com
Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)20 7383 5100
gerry.d.beaney@gtuk.com
XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070
John.Grant@xcapgroup.com
Karen.Kelly@xcapgroup.com
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)20 8980 3545
dominic@yellowjerseypr.com
CHF Investor Relations
Alison Tullis
(Canada) +1 416 868 1079 Ext. 233
alison@chfir.com
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, statements relating to the anticipated use of proceeds from
the Placement and benefits from mill improvements) 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 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 statements, 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 implement mill improvements.
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.
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.
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Copyright (c) 2010 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 Mon Oct 25, 2010 at 1:19:30 AM Pacific Time
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Arian Silver Corporation
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PRODUCTEUR |
CODE : AGQ.V |
ISIN : VGG0472G1063 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Arian Silver est une société de production minière d'argent basée au Royaume-Uni. Arian Silver est productrice d'argent, d'or, de plomb et de zinc au Mexique, et détient divers projets d'exploration au Mexique. Son principal projet en production est SAN JOSÉ ZACATECAS au Mexique et ses principaux projets en exploration sont SAN CELSO et CALICANTO au Mexique. Arian Silver est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 41,4 millions CA$ (39,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 12 décembre 2008 à 0,03 CA$, et son plus haut niveau récent le 07 janvier 2011 à 8,90 CA$. Arian Silver possède 318 491 926 actions en circulation. |