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Arian Silver shares suspended as Quintana terminates LOI

Shares in Mexico-focused miner Arian Silver have been suspended in London and halted in Toronto after a planned financing restructure hit the buffers.
Arian Silver shares suspended as Quintana terminates LOI
Last month, the group signed a letter of intent to extend its US$16.4mln senior secured convertible note with Quintana AGQ Holding by US$10mln.

Shares in Mexico-focused miner Arian Silver (LON:AGQ, CVE:AGQ) have been suspended in London and halted in Toronto after a planned financing restructure hit the buffers.

Last month, the group signed a letter of intent to extend its US$16.4mln  senior secured convertible note with Quintana AGQ Holding by US$10mln.

Today, Arian said discussions with Quintana and its affiliates were on-going, but that notice had been received 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," said Arian.

It had allowed the pair to negotiate exclusively until October 31 to amend the investment agreement between the parties and restructure the loan note.

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December 20 2016

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