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Arizona Metals Amends and Replaces Previously Announced Financing with Bought Deal Private Placement Financing
Arizona Metals Amends and Replaces Previously Announced Financing with Bought Deal Private...
About this update from Arizona Metals Corp
[{"type":"text","content":"\n\n\n\nArizona Metals Amends and Replaces Previously Announced Financing with Bought Deal Private Placement Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 13, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n TORONTO, May 13, 2020 /CNW/ - Arizona Metals Corp. (TSXV: AMC) (the \"Company\" or \"Arizona Metals\") is pleased to announce further to the press release issued yesterday evening, the Company has reached an agreement to replace the previously announced non-brokered private placement financing with a bought deal financing whereby Stifel GMP and Canaccord Genuity Corp. (collectively, the \"Underwriters\") have agreed to purchase on their own behalf, 4,650,000 units of the Company (the \"Units\") at a price of $0.65 per Unit (the \"Offering Price\") for gross proceeds to the Company of $3,022,500 (the \"Offering\"). Each Unit shall consist of one (1) common share (\"Common Share\") and one-half (0.5) of a common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of C$0.85 for a period of 18 months following the Closing Date (as defined below). Additionally, the Company will grant the Underwriters an option (the \"Underwriters' Option\") to purchase up to an additional 3,000,000 Units at the Offering Price exercisable, in whole or in part, at any time and from time to time on or prior to the date that is 5 days prior to the Closing Date. \nThe completion of the Offering shall be subject to, among other things, the receipt of all necessary regulatory and stock exchange approvals relating to the Offering as are appropriate in the circumstances, including the approval of the TSX Venture Exchange (the \"TSXV\") prior to the Closing Date. The Underwriters shall have the right and will endeavor to arrange for substi...