Arian Resources Corp GNHRF

Arian Resources closes $490,000 tranche of placement

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2015-08-18 20:40 ET - News Release Mr. Zahir Dhanani reports ARIAN RESOURCES CORP. CLOSES $490,000 FIRST OF PRIVATE PLACEMENT Arian Resources Corp. has closed the first tranche of its previously announced non-brokered private placement (news release dated July 4, 2015). The first tranche of the private placement consisted of the issuance of 9.8 million units at a price of five cents per unit for gross proceeds of $490,000. 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 seven cents until Aug. 13, 2020 (first tranche). In connection with the first tranche, the company paid certain finders' fees: 960,000 common shares and 960,000 purchase warrants. Each finder's warrant entitles the holder to purchase one additional common share at a price of seven cents until Aug. 13, 2017. The securities issued under the first tranche are subject to a hold period expiring on Dec. 14, 2015, and Dec. 14, 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. 2015 Canjex Publishing Ltd. All rights reserved.