SYS-CON MEDIA Authors: Yeshim Deniz, Doug Masi, Mat Mathews, PR.com Newswire, David Smith

News Feed Item

Arian Resources Corp. Closes $2,776,000 First Tranche of Private Placement & Issues Options

VANCOUVER, British Columbia, March 24, 2014 /PRNewswire/ --



/NOT  FOR  DISTRIBUTION  TO  U.S.  NEWS  WIRE  SERVICES  OR  DISSEMINATION  IN  THE  UNITED  STATES/

TSX  Venture  Exchange
Trading  Symbol:  ARC

Arian  Resources  Corp. ("Arian") - ARC: TSX-V. Mr. Zahir (Zip) Dhanani, CEO of Arian, is pleased to announce, Arian has closed the first tranche of its previously announced non-brokered private placement (news release dated January 30, 2014, February 3, 2014 and February 7, 2014).

The first tranche of the private placement consisted of the issuance of 18,506,666 units (the "Units") at a price of $0.15 per Unit for gross proceeds of $2,766,000 (the "First Tranche"). Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.25 until March 21st, 2016.

Each warrant is subject to accelerated expiry provisions such that if at any time after the expiry of any resale restriction governing the subscribed shares, the corporation's common shares trade on the TSX Venture Exchange at or above a volume-weighted average trading price of 40 cents per common share for 10 consecutive trading days, the company may give notice to the holders that each warrant will expire 30 days from the date of providing such notice.

In connection with the First Tranche, the Company paid certain finder's fees: a cash commission totalling $3,600, 655,400 common shares (the "Finder's Shares), and 679,400 purchase warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to purchase one additional common share at a price of $0.25 until March 21st, 2016.

The securities issued under the First Tranche are subject to a hold period expiring on July 21st, 2014.

The first tranche of the private placement consisted of 46 placees, two of which are from Arian's Advisory Board, Mossadiq Umedaly and Kombiz Eghdami who subscribed for 600,000 units and 200,000 units respectively offered in the private placement.

The net proceeds of the First Tranche will be applied to the Company's Albanian properties, general working capital and for new acquisitions.

The Company also announces that it has granted to directors, officers, consultants, and management of the Company, stock options (the "Options") to purchase a total of 1,800,000 common shares at a price of $0.20 per common share. The Options are exercisable for a period of 5 years ending March 21st, 2019 and have been granted in accordance with the terms of the Company's current stock option plan.

ON  BEHALF  OF  THE  BOARD  OF  DIRECTORS

Zahir  Dhanani,  CEO

About  Arian  Resources  Corp.

Arian Resources Corp. is a junior mineral exploration company with a focus on the exploration of prospective gold properties in Albania.

This news release may contain forward-looking statements including but not limited to comments regarding the closing of the transaction contemplated by closing of the financing. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Arian undertakes no obligation to update such statements, except as required by law.

Neither  the  TSX  Venture  Exchange  nor  its  Regulation  Services  Provider  (as  that  term  is  defined  in  the  policies  of  the  TSX  Venture  Exchange)  accepts  responsibility  for  the  adequacy  or  accuracy  of  this  release.

For further information:

For further information, contact Zahir Dhanani at +1-604-248-5175 or via email at [email protected].

(ARC.)

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.