Arian Resources Corp. (TSXV:ARC) announced a non-brokered private placement of up to 33,133,333 units at CAD 0.015 per unit for gross proceeds of up to CAD 497,000 on May 10, 2016. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share for a period of five years at an exercise price of CAD 0.05 per share. The transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. The securities being issued are subject to a hold period of four months and one day from the date of issuance.