Arian SilverCorp. said April 28 that it has raised £700,000 by placing 70million units at 1 penny each via its broker, Beaufort Securities Ltd.
Each unit comprises 1 new common share and 0.5 share purchasewarrant; 1 warrant will allow the holder to acquire 1 new common share for 1.5pence by April 28, 2019.
Proceeds will be put toward advancing exploration of miningconcessions in Zacatecas, Mexico, specifically in connection with the optionagreement inked inFebruary to evaluate Tierra Nueva Mining Ltd.'s silver properties in the region.
Shares are expected to be placed on the AIM as of May 13.