Last checked at 29 Oct 2015 09:16
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Trading Symbols
AIM: AGQ
TSX-V: AGQ
FWB: I3A
29 October 2015
Temporary Suspension and Trading Halt
Arian Silver Corporation (the "Company"), a silver mining company focussed on silver projects in the silver belt of Zacatecas, Mexico, announces that further to its announcement on 22 September 2015 of the signing of a letter of intent and non-binding term sheet with Quintana AGQ Holding Co. LLC ("Quintana"), discussions with Quintana and its affiliates are on-going, but that notice has been received from Quintana to terminate the letter of intent in accordance with its terms.
As such the Company has very limited working capital and until such time as an alternative or revised financing agreement is reached there is a material uncertainty over the financial condition of the Company.
Therefore the Company announces that trading in the Company's Ordinary Shares on AIM will be suspended with effect from 8.30am on 29 October 2015 and trading on the TSX-V will also be halted.
For further information please contact:
Arian Silver Corporation Jim Williams, CEO David Taylor, Company Secretary Fuad Sillem, Head of Corporate Development +44 (0)20 7887 6599 fsillem@ariansilver.com | Northland Capital Partners Limited Gerry Beaney / John Howes (London) +44 (0)20 7382 1100 |
OR | OR |
Cantor Fitzgerald Europe Stewart Dickson / Jeremy Stephenson / David Porter / Patrick Pittaway (London) +44 (0)20 7894 7000 | Yellow Jersey PR Limited Dominic Barretto (London) +44 (0)7768 537 739 dominic@yellowjerseypr.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) and no stock exchange, securities commission or other regulatory authority accepts responsibility for the adequacy or accuracy of this release nor approved or disapproved of the information contained herein.
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions (including in particular, that revised terms will be agreed). Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure to satisfy the terms under any of the Company's existing contractual obligations with Quintana (including in particular, the terms under the Base Metals Purchase Agreement as announced on 15 October 2014).
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.