ENP Newswire - 02 September 2014
Release date- 29082014 - Arian Silver Corporation a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, reports that discussions to fully fund the Company's flagship San Jose silver project continue to progress positively.
In August 2013, the Company entered into a 12 month US$15.6 million loan facility with Platinum Long Term Growth VIII, LLC ('Platinum' or the 'Lender'), convertible at the Lender's option at C$1.10 per share ('Convertible Note'). The Lender has confirmed their continued support of the Company and its funding strategy, extending the maturity date of the Convertible Note to 30 September 2014 for consideration of US$350,000. This extension to the Convertible Note has been approved by the Toronto Venture Stock Exchange.
The Company is in the process of finalising terms to fully fund the San Jose project for the foreseeable future and information regarding the new lender and terms of the financing package will be announced upon the conclusion of negotiations.
A further announcement regarding the Company's operational progress will be made in the Company's Q2 results announcement.
Full details regarding the loan facility with Platinum were announced on 2 September 2013 and are available from the Company's website at www.ariansilver.com/s/NewsReleases.asp.
For further information please see www.ariansilver.com
Arian Silver Corporation
Tel: +44 (0)20 7887 6599
Grant Thornton UK LLP
Tel: +44 (0)20 7383 5100
Yellow Jersey PR Limited
Tel: +44 (0)7768537739
Notes to editors
Arian Silver is a silver exploration, development and production company with a focus on projects in Zacatecas, within the silver belt of Mexico, the world's most productive silver district.
Arian Silver's flagship San Jose silver project comprises the San Jose underground mine (Ag, Pb, Zn) and the El Bote custom processing plant. The Company is in the process of reassembling the plant, which is expected to begin commissioning by the end of 2014.