Business
Arizona Silver Exploration Closes C$1,050,000 Equity Financing
(via TheNewswire) Vancouver, British Columbia - TheNewswire - March 5, 20...
About this update from Arizona Gold & Silver Inc.
[{"type":"text","content":"Arizona Silver Exploration Closes C$1,050,000 Equity Financing(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - March 5, 2020 - Arizona Silver Exploration. (TSXV:AZS) (OTC:AZASF) is pleased to announce that it has closed the second and final tranche of its previously announced non brokered private placement (the \"Private Placement\") by issuing 423,733 units (the \"Units) at a price of C$0.15 per Unit, for gross proceeds of C$63,560. Together with the first tranche, the Company has issued a total of 7,004,133 Units under the Private Placement for aggregate gross proceeds of approximately C$1,050 million. There were no brokers shares or fees payable upon close the Private Placement.\n\n\n \nEach Unit is comprised of one common share of the Company (a \"Share\") and one half of one transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase for a period of five years from the date of close one additional Share (a \"Warrant Share;') at an exercise price per Warrant Share of C$0.22. provided that the closing price of the Company's common shares on the TSX Venture Exchange is CAD$0.52 or greater per common share during a 10 consecutive trading day period. Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the warrant holders. The warrant holders will have no further rights to acquire any common shares of the Company under the Warrant. \n\n\n \nThe Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange. All securities issuable pursuant to the Private Placement are subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws \n\n\n \nThe Company plans to use the proceeds of the private placement for further exploration of the Philadelphia Property in Mohave County, Arizona, and the Ramsey silver mine in La Paz County, Arizona, as well as for general working capital purposes.\n\n\n \nPlease refer to our web site for all news and updated property information. www.arizonasilverexploration.com\n\n\n \nOn behalf of the Board of Directors:\n\n\n \nARIZONA SILVER EXPLORATION INC.\n\n\n \nMike Stark, CEO,...