Arian Silver Corporation Enters SEDA Agreement
27.09.2012 | Marketwired
LONDON, ENGLAND -- (Marketwire - Sept. 27, 2012) - Arian Silver Corporation (the "Company" or "Arian") (TSX VENTURE:AGQ) (AIM:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report it entered into a Standby Equity Distribution Agreement ("SEDA") pursuant to which YA Global Master SPV Ltd ("Yorkville"), an investment fund managed by Yorkville Advisors Global LP, has agreed to subscribe in tranches on an indemnified basis, when requested by the Company over the next three years, for up to £5 million of the Company's Common shares ("Shares").Jim Williams commented, "This facility ensures the Company is fully funded to execute Arian's short-term strategy, which includes initiating the phase 5 drilling programme. The facility provides access to working capital in a manner that minimises potential dilution whilst we conclude the milling and mining studies. The studies are progressing well and I look forward to being able to provide an update soon."
Under the terms of the SEDA, any Shares issued thereunder would be priced at 95 per cent of the prevailing market price over a pricing period of between 5 and 20 days, in accordance with the agreement.
The amount of each advance may not exceed, inter alia, a mutually agreeable amount not more than 400 per cent of the average daily trading volume of Shares multiplied by the volume weighted average price on AIM for the five trading days prior to the drawdown request.
Use of the facility is entirely at the discretion of the Company and there are no penalties for not drawing down on the facility.
The Company would apply for any Shares issued in relation to the SEDA to be admitted to trading on AIM upon completion of any such drawdown.
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.
Contact
Arian Silver Corporation
Berkeley Square House
Berkeley Square
London W1J 6BD
England
Arian Silver Corporation
Jim Williams, CEO
(London) +44 (0)20 7887 6599
jwilliams@ariansilver.com
Arian Silver Corporation
David Taylor, Company Secretary
(London) +44 (0)20 7887 6599
dtaylor@ariansilver.com
www.ariansilver.com
Grant Thornton Corporate Finance
Gerry Beaney / David Hignell
(London) +44 (0)20 7383 5100
gerry.d.beaney@uk.gt.com
XCAP Securities PLC
Jon Belliss
(London) +44 (0)20 7101 7070
jon.belliss@xcapgroup.com
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)77 6853 7739
dominic@yellowjerseypr.com
CHF Investor Relations
Juliet Heading
(Canada) +1 416 868 1079 x 239
juliet@chfir.com
