LONDON, ENGLAND — (Marketwired) — 10/01/14 — Arian Silver Corporation (TSX VENTURE: AGQ)(AIM: AGQ)(FRANKFURT: I3A) (the „Company“ or „Arian Silver“) 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 Jose silver project continue to progress.
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“). On 28 August 2014 the maturity date of the Convertible Note was extended to 30 September 2014 for consideration of US$350,000. On 30 September 2014, the Convertible Note was further extended to 15 October 2014 for consideration of $350,000. This extension to the Convertible Note has been approved by the Toronto Venture Stock Exchange conditional upon receipt of the amending agreement and issuance of a news release disclosing the announcement.
The Company is in the process of finalising terms to fully fund the San Jose 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.
Full details regarding the loan facility with Platinum were announced on 2 September 2013 and are available from the Company–s website at .
For further information please see .
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 Jose silver project comprises the San Jose 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 .
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.
Contacts: Arian Silver Corporation Jim Williams, CEO David Taylor, Company Secretary (London) +44 (0)20 7887 6599
Grant Thornton UK LLP Philip Secrett / David Hignell (London) +44 (0)20 7383 5100
Hume Capital, Broker Jon Belliss / Abigail Wayne (London) +44 (0)20 7101 7070
Yellow Jersey PR Limited Dominic Barretto (London) +44 (0)7768537739
Only registered users can comment.
