LONDON (Alliance News) - Arian Silver Corp shares were boosted in trade on Wednesday after the company said it has secured a USD32 million financing package for its San Jose silver project in Mexico.
The USD32 million joint financing deal has been agreed with Quintana AGQ Holding Co LLC and Quintana San Jose Streaming Co LLC.
Under the deal, Quintana will acquire a USD15.6 million convertible loan note issued by Arian.
Arian also said its Arian Silver (Barbados) Corp unit has entered into a USD15.6 million base metal purchase agreement with an affiliate of Quintana to advance the San Jose project to full-scale commercial production.
Arian shares surged higher on the deal, up 19% to 35.60 pence to make it the second best performer on the AIM All-Share after Ultrasis PLC.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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