Business
Arizona Gold & Silver Inc. Announces CAD $3 Million Equity Financing Led by Sprott Group
(TheNewswire) Vancouver, British Columbia – TheNewswire - September 18, 2024...
About this update from Arizona Gold & Silver Inc.
[{"type":"text","content":"Arizona Gold & Silver Inc. Announces CAD $3 Million Equity Financing Led by Sprott Group\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\n \n\n TheNewswire -\n \n\n September 18, 2024 – Arizona Gold &\nSilver Inc. (the “Company” or “Arizona”) (TSX-V: AZS) (OTCQB:\nAZASF)\n \n\n is pleased to announce a non-brokered\nprivate placement (the “\n \n\n Private Placement\n \n\n ”) offering of up to 10\nmillion units (“\n \n\n Units\n \n\n ”) at a price of $0.30 per Unit for\ngross proceeds of up to CAD $3,000,000 million. Each Unit will consist\nof one common share and one common share purchase warrant\n(“\n \n\n Warrant\n \n\n ”). Each Warrant will entitle the holder to purchase one\nadditional common share of the Company at a price of $0.40 for three\n(3) years following the closing of the Private Placement.\n \n\n\n\n As part of the financing terms Sprott Global Resource\nInvestments, Ltd. has agreed to act as finders in the Private\nPlacement, with a lead order of CAD $850,000 from a single US\nFund.\n \n\n\n\n The Company may pay finders’ fees of 4% to eligible\nfinders for services in connection with the Private Placement in cash\nor warrants exercisable into shares (“\n \n\n Finders Warrants\n \n\n ”).  The terms of the Finders Warrants will be the same\nterms as the Warrants pursuant to the Private Placement.\n \n\n\n\n “\n \n\n We feel very fortunate to have\nSprott take the lead on this financing.  Sprott recognizes the\nsuccess and growing potential of Arizona’s Philadelphia project”\n \n\n stated Mike Stark, President & CEO.\n \n\n\n\n The Company plans to use the proceeds of the Private\nPlacement for further exploration and drilling of the Philadelphia\nProperty in Mohave County, Arizona, the advancement of other Company\nprojects, as well as for general working capital purposes.\n \n\n\n\n All securities issued pursuant to the Private Placement\nwill be subject to a statutory hold period of four months and one day\nfrom the date of issuance, in accordance with applicable securities\nlaws. The closing of the Private Placement is subject to the receipt\nof all necessary regulatory approvals.\n \n\n\n\n To demonstrate continu...