Business
Arizona Silver Announces Acceleration of Expiry of Warrants and Grant of Stock Options
(via TheNewswire) Vancouver, British Columbia - TheNewswire - August ...
About this update from Arizona Gold & Silver Inc.
[{"type":"text","content":"Arizona Silver Announces Acceleration of Expiry of Warrants and Grant of Stock Options(via TheNewswire)\n \n \n\n\n\n \nVancouver, British Columbia - TheNewswire - August 31, 2020 - Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) The Company today announces that it has elected to accelerate the expiry date of the warrants (the \"Warrants\") issued as part of its private placement unit offering (the \"Private Placement\") announced on December 30, 2020. The warrants currently expire on January 3, 2022 at the price of $0.15 per warrant share.\n\n\n \nPursuant to the terms of the Private Placement, if the closing price of the Company's shares on the TSXV is $0.35 per share or greater for ten (10) consecutive trading days, the Company is entitled to accelerate the expiry date of the Warrants to a date thirty (30) days from the date notice of such acceleration is provided to holders of Warrants. The Company has elected to provide notice of such acceleration to the holders of Warrants.\n\n\n \nThis press release constitutes notice to Warrant holders of the new expiry time. Any Warrants remaining unexercised after the new expiry time will be cancelled.\n\n\n \nEffective today, the Warrants issued to the purchasers pursuant to the Private Placement are set to expire at 4:30 p.m. (Vancouver time) on September 30, 2020.\n\n\n \nTo date a total of 1,900,000 Warrants have been exercised for total proceeds of $285,000. Although it is unknown how many Warrants will be exercised, if all of the Warrants are exercised, the Company will receive additional proceeds of $227,071 and a total of 1,513,809 additional common shares of the Company will be issued. \n\n\n \nHow to Exercise Warrants\n\n\n \nWarrant holders who wish to exercise their Warrants should instruct their investment advisor and be prepared to provide payment to their advisor firm equal to the exercise price for each warrant exercised. Investors should consult with their investment advisor to confirm the time required to complete this process and other costs associated with the exercise, if any.\n\n\n \nWarrant holders who hold a physical certificate wishing to exercise Warrants need to provide to the Company on or before September 30, 2020 a certified cheque, bank draft or money order payable to Arizona Silver Exploration Inc. together with the Warrant certificate with the ex...