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Share Name | Share Symbol | Market | Type |
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TSXV:AGQ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Arian Silver Corporation (the "Company" or "Arian") (TSX VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report it entered into a Standby Equity Distribution Agreement ("SEDA") pursuant to which YA Global Master SPV Ltd ("Yorkville"), an investment fund managed by Yorkville Advisors Global LP, has agreed to subscribe in tranches on an indemnified basis, when requested by the Company over the next three years, for up to GBP 5 million of the Company's Common shares ("Shares"). Jim Williams commented, "This facility ensures the Company is fully funded to execute Arian's short-term strategy, which includes initiating the phase 5 drilling programme. The facility provides access to working capital in a manner that minimises potential dilution whilst we conclude the milling and mining studies. The studies are progressing well and I look forward to being able to provide an update soon." Under the terms of the SEDA, any Shares issued thereunder would be priced at 95 per cent of the prevailing market price over a pricing period of between 5 and 20 days, in accordance with the agreement. The amount of each advance may not exceed, inter alia, a mutually agreeable amount not more than 400 per cent of the average daily trading volume of Shares multiplied by the volume weighted average price on AIM for the five trading days prior to the drawdown request. Use of the facility is entirely at the discretion of the Company and there are no penalties for not drawing down on the facility. The Company would apply for any Shares issued in relation to the SEDA to be admitted to trading on AIM upon completion of any such drawdown.
1 Year Arian Silver Corporation Chart |
1 Month Arian Silver Corporation Chart |
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