Business
Arizona Eagle Mining Announces Non-Brokered Private Placement Financing for Gross Proceeds of up to C$3,000,000
Toronto, Ontario--(Newsfile Corp. - May 13, 2026) - Arizona Eagle Mining Corp. (TSXV: AZEM) (the "Company" or "Arizona Eagle") is pleased to announce that it
About this update from Arizona Eagle Mining Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - May 13, 2026) - Arizona Eagle Mining Corp. (TSXV: AZEM) (the \"Company\" or \"Arizona Eagle\") is pleased to announce that it intends to complete a non-brokered private placement (the \"Offering\") of units of the Company (each, a \"Unit\") at a price of C$1.10 per Unit for aggregate gross proceeds to the Company of up to C$3,000,000. Each Unit will be comprised of one common share of the Company (each, a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant will entitle the holder thereof to acquire one Common Share (each, a \"Warrant Share\") at an exercise price of C$1.50 per Warrant Share for a period of 36 months from the closing date of the Offering. The Company intends to use the net proceeds from the Offering: (i) to fund the pending acquisition of the Eagle Silver Project, comprising the Arizona National Mine, the Lookout Mine and the Silver Belt Mine (collectively, together with any additional silver-focused mineral properties that the Company may acquire from time to time in Yavapai County, Arizona, the \"Silver Projects\"), as previously announced by the Company on April 20, 2026; (ii) to fund an inaugural 3,500 meter drill program on the Silver Projects; and (iii) for general corporate and working capital purposes. The foregoing allocation of the net proceeds of the Offering represents the Company's current intentions based on present plans and business conditions and may be reallocated by management where sound business reasons make such reallocation prudent or necessary. Kevin Reid, Chief Executive Officer of Arizona Eagle, commented: \"This financing will provide Arizona Eagle with the capital to advance our silver strategy, including the acquisition of additional high-grade silver properties and the funding of an inaugural drill program targeting the Silver Projects. We are excited to expand our silver footprint and to systematically drill test these highly prospective targets as we continue to build out our project portfolio.\" The Offering is being conducted on a private placement basis pursuant to available exemptions from the prospectus requirements under applicable Canadian securities laws. Units will be offered and sold: (i) to purchasers in each of the provinces and territories of Canada on a pr...