LONDON, ENGLAND--(Marketwired - May 8, 2013) - Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ)(AGQ.L)(I3A.F), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, today announced the Company has drawn down GBP 300,000 of its GBP 5 million Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("YA"), as announced by the Company on 27 September 2012.
Under the terms of the SEDA, the Company has allotted, conditional on admission, 4,403,160 Common Shares of no par value to YA at a price of GBP 0.068133 per share. This price is calculated under the terms of the SEDA.
The proceeds will contribute to working capital and other costs in the short-term, facilitating the acquisition of the El Bote mill, as announced on 15 March 2013.
An application has been made to the London Stock Exchange for 4,403,160 Common Shares to be admitted to trading on AIM and it is expected that admission will occur at 8.00 a.m. on 13 May 2013. The new Common Shares will rank pari passu in all respects with the existing Common Shares. GBP 3,066,200 remains available to the Company under this SEDA.
Following this share issue the Company has in issue 318,491,926 Common Shares with voting rights.