20:49:34 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Arian Resources Corp
Symbol ARC
Shares Issued 110,263,474
Close 2015-03-10 C$ 0.045
Market Cap C$ 4,961,856
Recent Sedar Documents

Arian Resources closes two financing tranches

2015-03-12 09:33 ET - News Release

Mr. Zahir Dhanani reports

ARIAN RESOURCES CORP. CLOSES $620,000 FIRST & SECOND TRANCHE OF PRIVATE PLACEMENT

Arian Resources Corp. has closed the first and second tranches of its previously announced non-brokered private placement (news release dated Jan. 24, 2015).

The first tranche of the private placement consisted of the issuance of 11 million units at a price of five cents per unit for gross proceeds of $550,000. The second tranche of the private placement consisted of the issuance of 1.4 million units at a price of five cents per unit for gross proceeds of $70,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of 10 cents until March 5, 2020 (first tranche), and March 12, 2020 (second tranche).

In connection with the second tranche, the company paid certain finders' fees: 100,000 common shares and 100,000 purchase warrants. Each finders' warrant entitles the holder to purchase one additional common share at a price of 10 cents until March 12, 2017.

The securities issued under the first tranche and second tranche are subject to a hold period expiring on July 5, 2015, and July 12, 2015, respectively.

The net proceeds of the first tranche will be applied to the company's Albanian properties and general working capital.

We seek Safe Harbor.

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