Arian Resources Corp. announced that it has received CAD 0.62 million in funding
On March 12, 2015, Arian Resources Corp. closed the transaction. The company issued 11,000,000 units for gross proceeds of CAD 550,000 and 1,400,000 units for gross proceeds of CAD 70,000. Each warrant entitles the holder to purchase one additional common share until March 5, 2020 for first tranche and March 12, 2020 for second tranche. The company paid certain finder's fees of 100,000 common shares and 100,000 purchase warrants in the second tranche. Each Finder's warrant entitles the holder to purchase one additional common share at a price of CAD 0.10 until March 12, 2017. The securities issued are subject to a hold period expiring on July 5, 2015, and July 12, 2015 respectively. The company announced that TSX Venture Exchange has accepted for filing documentation with respect first and second tranche of the transaction. The transaction will include participation from nine placees including Robert J. Naso for 1,600,000 units and Zahir Dhanani, Chief Executive Officer for 2,400,000 units. The company paid finders' fee to Natan Nickolas.