NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – Arian Resources Corp. (“Arian”) (ARC:CA) – Mr. Zahir (Zip) Dhanani, CEO & Chairman of Arian, is pleased to announce, Arian has closed the first tranche and second tranche of its previously announced non-brokered private placement (news release dated January 24, 2015 ). The first tranche of the private placement consisted of the issuance of 11,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $550,000 (the “First Tranche”). The second tranche of the private placement consisted of the issuance of 1,400,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $70,000 (the “Second Tranche”). Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 until March 5, 2020 (First Tranche) and March 12, 2020 (Second Tranche).
In connection with the Second Tranche, the Company paid certain finder’s fees: 100,000 common shares (the “Finder’s Shares), and 100,000 purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder to purchase one additional common share at a price of $0.10 until March 12, 2017. The securities issued under the First Tranche and Second Tranche are subject to a hold period expiring on July 5, 2015, and July 12, 2015 respectively.
The net proceeds of the First Tranche will be applied to the Company’s Albanian properties and general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
Zahir Dhanani, CEO
For further information, contact Zahir Dhanani at 604.248.5175 or via email at email@example.com.
About Arian Resources Corp.
Arian Resources Corp. is a junior mineral exploration company with a focus on the exploration of prospective gold properties in Albania.
This news release may contain forward-looking statements including but not limited to comments regarding the closing of the transaction contemplated by closing of the financing. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Arian undertakes no obligation to update such statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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