Arian Resources Corp. announced that it has received CAD 0.75 million in funding from Sinomine Resource Exploration Co., Ltd. and other investors.
On November 21, 2014, the company announced that TSX Venture Exchange has accepted filing documentation with respect to the first tranche of the transaction. The company has issued 4,700,000 units for proceeds of CAD 705,000 in its first tranche of the transaction. The transaction will include participation from five placees. Sinaomine Resource Exploration Co., Ltd. subscribed 2,500,000 units and Dong Tao subscribed 1,000,000 units in the transaction. Each warrant entitles the holder to purchase one additional common share of the company at a price of CAD 0.25 until November 21, 2019. In connection with the first tranche, the company paid finder's fee of 70,000 common shares and 70,000 purchase warrants to Zabina Ventures. Each finder's warrant entitles the holder to purchase one additional common share at a price of CAD 0.25 until November 21, 2016. The securities issued under the first tranche are subject to a hold period expiring on March 21, 2014.
On November 2, 2014, the company announced that it has issued 4,700,000 units at CAD 0.15 per unit in its first tranche for gross proceeds of CAD 705,000. Sinomine Resource Exploration Co., Ltd. received 2,500,000 shares for CAD 375,000 while Dong Tao received 1,000,000 units for CAD 150,000. The warrants have a maturity date on November 21, 2019.The company has paid 70,000 common shares and 70,000 purchase warrants as finder's fees. Each Finder's warrant entitles the holder to purchase one additional common share at a price of CAD 0.25 per until November 21, 2016. The securities issued under the first tranche are subject to a hold period expiring on March 21, 2014.
On December 5, 2014, Arian Resources Corp. closed the transaction. The company issued 300,000 units for gross proceeds of CAD 45,000 in second and final tranche of the transaction. The company received total gross proceeds of CAD 750,000 in the transaction. Each warrant entitles the holder to purchase one additional common share of the company at a price of CAD 0.25 until December 3, 2019. The securities issued under the second tranche are subject to a hold period expiring on April 3, 2014. The transaction has been accepted for filing documentation with respect to the second and final tranche with TSX Venture Exchange. THe round included participation from one placee including Zahir Dhanani, who purchased 300,000 units.