StockMarketWire.com – Arian Silver Corporation reports that discussions to fully fund the company's flagship San Jose silver project continue to progress.
In August 2013, the company entered into a 12 month US$15.6 million loan facility with Platinum Long Term Growth VIII, LLC, convertible at the lender's option at C$1.10 per share.
On 28 August this year the maturity date of the convertible note was extended to 30 September 2014 for consideration of US$350,000. On 30 September 2014, the convertible note was further extended to 15 October 2014 for consideration of $350,000. This extension to the convertible note has been approved by the Toronto Venture Stock Exchange conditional upon receipt of the amending agreement and issuance of a news release disclosing the announcement.
The company is in the process of finalising terms to fully fund the San Jose project for the foreseeable future and information regarding the new lender and terms of the financing package will be announced upon the conclusion of negotiations.
