(TheNewswire)
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia / TheNewswire / April 8,2024 – Arizona Gold & Silver Inc. (the “Company” or “Arizona Gold”) (TSX-V: AZS)(OTCQB: AZASF) is pleased to announce that ithas closed a non-brokered private placement previously announced onMarch 28, 2024 (the “ Private Placement ”) of 5,328,297 units (the“ Units ”) at a price of $0.30 perUnit raising total gross proceeds ofCAD$1,598,489.21.
Each Unit will consist of one common share (the “ Shares ”) of the Company and one transferable common share purchase warrant (each, a " Warrant ") witheach whole Warrant exercisable at a price of $0.45 per Share for aperiod of two years from closing of the Private Placement.
The Private Placement included participation byinsiders of the Company in the aggregate amount of 878,088 Units The participation in the placement by theseinsiders constitutes a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”)). The Company relied upon the “Issuer Not Listed on Specified Markets” and “Fair Market Value NotMore Than $2,500,000” exemptions from the formal valuation andminority shareholder approval requirements, respectively, under MI61-101.
The Company plans to use the proceeds of the Private Placement for further exploration of the Philadelphia Property in Mohave County, and for general working capitalpurposes.
In connection with the closing of the PrivatePlacement, the Company paid finders’ fees totaling $19,976.99. Thefinders’ fees are subject to regulatory approval.
All securities issued are subject to a four-month hold period. On behalf of the Board ofDirectors:
Mike Stark, President, CEO and Director
Phone: (604) 833- 4278
mike.stark@arizonagoldsilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended,and may not be offered or sold within the United States or to, or forthe account or benefit of, U.S. persons absent U.S. registration or anapplicable exemption from the U.S. registration requirements.
This news release does not constitutean offer for sale of securities for sale, nor a solicitation foroffers to buy any securities. Any public offering of securities in the United States must be madeby means of a prospectus containing detailed information about thecompany and management, as well as financial statements.
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