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Arizona Metals Corp Announces $15 Million Bought Deal Private Placement and Increases Kay Mine Phase 2 Expansion Program from 25,000m to 75,000m
Arizona Metals Corp Announces $15 Million Bought Deal Private Placement and Increases Kay...
About this update from Arizona Metals Corp
[{"type":"text","content":"\n \n \n \n Arizona Metals Corp Announces $15 Million Bought Deal Private Placement and Increases Kay Mine Phase 2 Expansion Program from 25,000m to 75,000m\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 /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\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n April 5, 2021\n \n /CNW/ - Arizona Metals Corp. (TSXV: 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 \") led by Stifel GMP and Clarus Securities Inc., pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 7,150,000 special warrants of the Company (the \"\n \n Special Warrants\n \n \") at a price of C$2.10 per Special Warrant (the \"\n \n Offering Price\n \n \") for aggregate gross proceeds to the Company of C$15,015,000 (the \"\n \n Offering\n \n \"). The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,072,500 Special Warrants at the Issue Price exercisable in whole or in part, at any time and from time to time on or prior to the date that is 48 hours prior to the Closing Date (as defined below).\n \n \n This financing will allow the Company to increase the fully-funded Kay Mine Phase 2 expansion drill program, currently underway, from 25,000 to 75,000 metres.\n \n \n \n Marc Pais\n \n , CEO commented, \"\n \n We appreciate the continued support and confidence of current and new shareholders. This financing will allow us to triple the planned drilling at the Kay Mine Phase 2 Expansion program from\n \n 25,000m\n \n to\n \n 75,000m\n \n . We can now accelerate the testing of numerous satellite targets on strike and to the west of the Kay Mine, previously identified using a combination of struct...