ARIAN ANNOUNCES CLOSING OF FOURTH AND FINAL TRANCHE OF PRIVATE PLACEMENT
July 16, 2014 TSX Venture Exchange – Vancouver, British Columbia – Arian Resources Corp. (“Arian”)
Mr. Zahir Dhanani, Chairman & CEO of Arian, is pleased to announce that Arian has closed the fourth and final tranche (the “Final Tranche”) of its non-brokered private placement financing (the “Financing”) that was previously announced on January 30, February 3, February 7, March 24, 2014, and June 25, 2014.
The Fourth Tranche consisted of the issuance of 728,167 units (“Units”) at a price of $0.15 per Unit for gross proceeds of $109,225.05. Each Unit consists of one common share (a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional Share at a price of $0.25 for a period of two years after the date of distribution.
Each Warrant is subject to accelerated expiry provisions such that if at any time after the expiry of any resale restriction governing the subscribed Shares, the Shares trade on the TSX Venture Exchange at or above a volume-weighted average trading price of 40 cents per Share for 10 consecutive trading days, Arian may give notice to the holders that each Warrant will expire 30 days from the date of providing such notice.
In connection with the Final Tranche, Arian issued 62,667 Units to a finder as finder’s fees.
The securities issued under the Final Tranche are subject to a hold period expiring on November 15, 2014.
Combining all tranches of the Financing, the company issued a total of 25,740,011 Units for gross proceeds of $3,861,001.
The net proceeds of the Financing will be applied to Arian’s Albanian properties, general working capital and for new acquisitions.
ON BEHALF OF THE BOARD OF DIRECTORS
http://www.arianresources.com/s/News.asp?DateRange=2014/01/01…2014/12/31