Arian Silver Corp Change of Directors and Fund Raising

 
TIDMAGQ 
 
Trading Symbols 
 
                                                                       AIM: AGQ 
 
                                                                       FWB: I3A 
 
10 May 2018 
 
                  Placing to raise GBP602,000 and Board changes 
 
Arian Silver Corporation ("Arian?? or the "Company") is pleased 
to announce that it has raised GBP602,000 (before expenses) by way of a 
non-brokered private placing at a 4.2% premium to the closing market price on 9 
May 2018, in conjunction with key changes to its board of directors, as 
detailed below. 
 
Board Changes 
 
Jim Williams, one of two co-founders of Arian and CEO since May 2006, has 
announced his retirement as a director and CEO of the Company with effect from 
the date of Admission (as defined below). Jim Williams will avail himself to 
the Company in an advisory capacity, when required, over the next 12 months. 
 
Tony Williams, who co-founded Arian with Jim Williams, and who served as 
Executive Chairman during the same period, has also announced his retirement as 
a director and Executive Chairman of the Company, with effect from the date of 
Admission. 
 
Pursuant to the terms of their Directors Service Contracts, both Jim Williams 
and Tony Williams will receive a settlement payment equal to their annual 
Directors' fee from the Company (the "Settlement Payments"). The Settlement 
Payments will be made partly in cash and partly through the issuance of common 
shares of no par value in the capital of the Company ("Common Shares") at a 
price of 0.25p per Common Share (the "Settlement Shares"). 
 
Dennis Edmonds has been appointed as Executive Chairman of the Company with 
effect from the date of Admission and succeeds Tony Williams as Chairman of the 
Board. 
 
Dennis practiced as a corporate solicitor in the Republic of South Africa and 
in England and has extensive experience of corporate acquisitions and 
restructurings. Dennis was later employed at board level in the investment 
banking and venture capital industries and his experience includes structuring 
deals and running companies. 
 
Dennis Vernon Edmonds, aged 61, is a director/partner or has been a director/ 
partner of the following companies/partnerships during the previous five years: 
 
Current Directorships                   Former Directorships within the past 
Draganfly Investments Limited           5 years 
Bubblr Limited                          Upbeat Productions Ltd 
Bubblr Holdings Ltd                     Healthcare IT Strategy Solutions 
                                        Limited 
                                        Opus Family Office Services Ltd 
 
Upon his appointment as Executive Chairman, the Company will grant Mr Edmonds 
options over 17,142,373 Common Shares exercisable at a price of 0.25p each, for 
a period of five years from the date of grant. The exercise price represents a 
premium of 4.2% to Arian's closing price on 9 May 2018. Mr Edmonds has no other 
interests in the Company's Common Shares. 
 
Chris Gordon has been appointed as an independent Non-Executive Director with 
effect from the date of Admission. 
 
Chris Gordon has a Bachelor of Economics degree awarded by the University of 
London and over 10 years' experience in the financial services sector in 
London, working in dealing and trading roles with a focus on raising capital 
for listed companies. Chris Gordon previously acted as a non-executive director 
for Gunsynd plc which is listed on AIM. 
 
Christopher Charles Gordon, aged 32, is a director/partner or has been a 
director/partner of the following companies/partnerships during the previous 
five years: 
 
Current Directorships                   Former Directorships within the past 
Gordon Global Index                     5 years 
                                        Gunsynd Plc 
                                        MV Biscuits Limited 
 
Upon his appointment as Non-Executive Director, the Company will grant Mr 
Gordon options over 17,142,373 Common Shares exercisable at a price of 0.25p 
each, for a period of five years from the date of grant. Mr Gordon has no other 
interests in the Company's Common Shares. 
 
Save for the information disclosed above there is no other information to be 
disclosed in respect of either Messrs Edmonds or Gordon under Schedule 2(g) of 
the AIM Rules. 
 
Private Placing 
 
Arian has raised a total of GBP602,000 before expenses by way of a non-brokered 
placing of 240,800,000 Common Shares at a price of 0.25p each (the "Placing 
Shares") to new investors, at a premium of approximately 4.2% to Arian's 
closing price on 9 May 2018 (the "Placing"). 
 
The Company intends to use the net proceeds of the Placing to actively look for 
new mining projects that Arian could develop in order to contribute to the 
Company's future growth strategy. 
 
The Placing is conditional on the Placing Shares, which will rank pari passu 
with the existing Common Shares, being admitted to trading on AIM 
("Admission"). Application for the Admission of the Placing Shares will be made 
and it is expected that Admission of the Placing Shares will become effective 
at 8:00am on or around 15 May 2018. 
 
Jim Williams commented, "On behalf of all the directors, I would like to 
welcome Dennis and Chris to the Board. We are excited and optimistic about 
Arian's prospects under Dennis' leadership and I wish him, the Board and our 
shareholders well for the future." 
 
Dennis Edmonds, Chairman of Arian, commented, "I am delighted to be taking on 
this role at such an important time. I would like to thank Jim and Tony for 
their evident tenacity and commitment to the Company over the past 12 years, 
and look forward to having opportunity to share my vision for the Arian in due 
course." 
 
Significant Shareholders and Total Voting Rights 
 
Following the Admission of both the Placing Shares and the Settlement Shares 
and assuming no exercise of share options or warrants prior to that date, the 
following companies and individuals will have significant shareholdings in the 
Company: 
 
Shareholder                      Common Shares held     Percentage of Common Shares 
                                 following the          held following the Admission 
                                 Admission              with voting rights 
 
King Dragon (Far East) Limited   120,000,000            17.10% 
 
Jim Williams                     27,900,000             3.98% 
 
Roderick McIllree                24,000,000             3.42% 
 
Following Admission of the Placing Shares and the Settlement Shares and 
assuming no exercise of share options or warrants prior to that date, the 
Company will have 701,694,941 Common Shares in issue. The Company has no shares 
in treasury, therefore the figure of 701,694,941 Common Shares should be used 
by shareholders as the denominator for the calculations by which they will 
determine if they are required to notify their interest in, or a change of 
their interest in, the share capital of the Company under the FCA's Disclosure 
and Transparency Rules. 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) 596/2014. 
 
In addition, market soundings (as defined in MAR) were taken in respect of the 
Placing with the result that certain persons became aware of inside information 
(as defined in MAR), as permitted by MAR. This inside information is set out in 
this Announcement. Therefore, those persons that received inside information in 
a market sounding are no longer in possession of such inside information 
relating to the Company and its securities. 
 
For further information please contact: 
 
Arian Silver Corporation              Northland Capital Partners Limited 
Jim Williams, CEO                     David Hignell / John Howes / Dugald J. 
David Taylor, Company Secretary       Carlean / Jamie Spotswood 
Tel: [phone]              Tel: [phone] 
 
 
OR 
 
Yellow Jersey 
Charles Goodwin / Harriet Jackson 
Tel: [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

May 10, 2018 02:00 ET (06:00 GMT)