Business & Finance
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Published in Business and Finance on Friday, March 27th 2009 at 7:53 GMT, Last Modified on 2009-03-27 07:54:19 by Market Wire
LONDON, UNITED KINGDOM--(Marketwire - March 27, 2009) - Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) announces that at a General Meeting of shareholders held today in London, England, approval was given to issue an additional 82,993,679 common shares of the Company to Grafton Resource Investments Ltd ("Grafton") in connection with the previously announced share exchange transaction with Grafton (see Arian press releases of 27 January, 5 February and 26 February 2009).
The share issue is now subject only to receipt of the final approval of the TSX Venture Exchange ("TSXV"). Following receipt of TSXV approval Arian will issue 82,993,679 common shares at Cdn$0.055 per share equating to approximately Cdn$4,564,653 and Grafton will issue the same dollar value of its ordinary shares to Arian. The number of Grafton ordinary shares to be issued in exchange for the Arian common shares shall be determined by reference to the net asset value per Grafton ordinary share calculated as at the close of business on 31 March 2009.
Following closing of this share exchange Grafton's share interest in Arian will increase from 14.9% to approximately 42.2% (calculated as at the date hereof).
About the Company
Arian Silver Corporation is a silver exploration and development company listed on London's AIM and "PLUS", on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian Silver is active in Mexico, the world's second largest silver producing country. The Company's main projects are the Calicanto and San Jose projects in Zacatecas State and the Tepal project in Michoacan State. Part of Arian Silver's forward-looking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized structures, which reduces the overall unit operating cost of metals, and to build up NI 43-101 compliant resources.
Further information can be found by visiting Arian's website: [ www.ariansilver.com ] or the Company's publicly available records at [ www.sedar.com ].
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this release. Neither 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.
