Arizona Metals Corp. Announces Bought Deal Financing

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[{"type":"text","content":"\n\n\n\n Arizona Metals Corp. Announces Bought Deal Financing\n \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 Canada NewsWire\n \n\n\n\n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Dec. 2, 2024\n \n\n /CNW/ - Arizona Metals Corp. (TSX: AMC) (OTCQX: AZMCF) (the \"\n \n Company\n \n \" or \"\n \n Arizona Metals\n \n \") is pleased to announce it has entered into an agreement with a syndicate of underwriters (the \"\n \n Underwriters\n \n \") co-led by Stifel Canada and Scotiabank pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 14,705,883 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price of C$1.70 per Common Share (the \"\n \n Offering Price\n \n \") for gross proceeds to the Company of C$25,000,001 (the \"\n \n Offering\n \n \").\n \n\n\n\n\n\n\n\n\n The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,205,883 Common Shares under the Offering 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 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional\n \n C$3,750,001\n \n in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be\n \n C$28,750,002\n \n .\n \n\n The Company plans to use the net proceeds from the Offering to fund exploration expenditures at the Company's Kay Mine Project and Sugarloaf Peak Property, both in\n \n Arizona\n \n , as well as for working capital and general corporate purposes. The Common Shares will be offered by way of a short form prospectus to be filed...

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