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Arizona Metals Corp to Acquire Additional Private Lands at its Kay Mine Project
Arizona Metals Corp to Acquire Additional Private Lands at its Kay Mine Project Canada ...
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[{"type":"text","content":"\n \n \n \n Arizona Metals Corp to Acquire Additional Private Lands at its Kay Mine Project\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 \n /NOT FOR DISTRIBUTION TO US 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 \n \n TORONTO\n \n \n ,\n \n \n Aug. 29, 2023\n \n \n /CNW/ - Arizona Metals Corp. (TSX: AMC) (OTCQX: AZMCF) (the \"Company\" or \"Arizona Metals\") is pleased to announce that it has entered into a purchase and sale agreement (the \"Purchase Agreement\") with an arm's length\n \n California\n \n -based public company (the \"Vendor\") to acquire 100% of a private land parcel totaling 46.4 acres (the \"Property\"), located 950 metres northeast of its Kay Mine Deposit. The Property includes the surface, mineral, and water rights, among other rights and benefits.\n \n \n \n Transaction Details\n \n \n \n The Purchase Agreement to acquire the Property calls for total payments of\n \n US$2,500,000\n \n to the Vendor as consideration for a 100% interest in the Property. The terms of the Purchase Agreement include a due diligence period ending on\n \n November 11th, 2023\n \n . The Company has sufficient financial resources to acquire this additional private land while also meeting its current exploration objectives, with over\n \n $44 million\n \n in the treasury as of\n \n June 30, 2023\n \n .\n \n \n \n \n Marc Pais\n \n , CEO of Arizona Metals comments, \"The acquisition of the Property is another significant de-risking step in moving the Kay Mine Deposit closer to a production decision. Including the 71 acres of patented land that host our Kay Mine Deposit, this acquisition will increase our total holdings of private and patented land to 224 acres. The Property is contiguous with and adjacent to the 107 acres of patented land (including water rights and wells) acquired in\n \n January 2021\n \n . The additional flat land we are acquiring increases the private ...