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Arian Resources CorpSymbolC : ARCShares Issued96,001,074Close 2014-10-10C$ 0.065Recent Sedar Documents
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Arian Resources arranges $750,000 private placement
2014-10-14 09:12 ET - News Release
Mr. Zahir Dhanani reports
SINOMINE INCREASES INVESTMENT IN ARIAN RESOURCES
Arian Resources Corp. is arranging a non-brokered private placement of up to five million units at a price of 15 cents per unit, for gross proceeds of up to $750,000. Each unit comprises one common share and one share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional common share for a period of five years at a price of 25 cents.
Sinomine Resource Exploration Company Ltd., Arian's partner on the Perlat project in Albania, will be increasing its stake with a purchase of an additional 2.5 million units.
Insiders will be participating in the financing. Arian's chief executive officer and chairman Zip Dhanani will subscribe for 300,000 units, Arian's director Tao Dong will be subscribing for one million units, Arian's advisory board members Ardian Avdalli and Chad Ulansky for 300,000 units and 100,000 units, respectively.
In connection with the offering, subject to regulatory approval, the company will pay certain eligible finders' fees for units sold in the offering, at the discretion of Arian.
Proceeds of the placement will be applied to the company's Albanian properties and to general working capital.
All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law. The offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
We seek Safe Harbor.