Arizona Silver arranges $1.1-million private placement

Feb 28, 2020

2020-02-28 17:00 ET – News Release

Mr. Mike Stark reports

ARIZONA SILVER ANNOUNCES PROPOSED CAD$1,100,000 PRIVATE PLACEMENT

Subject to the approval of the TSX Venture Exchange, Arizona Silver Exploration Inc. proposes to raise up to $1.1-million through a non-brokered private placement.

The private placement will be comprised of up to 7,333,333 units of the Company (the “Units”) at a price of CAD$0.15 per Unit for total proceeds of up to CAD$1,100,000. Each Unit will consist of one common share of the Company and one-half of one transferable common share purchase warrant (each, a “Warrant”) with each whole Warrant exercisable at a price of CAD$0.22 per share for a period of five years from closing of the private placement, provided that in the event that the closing price of the Company’s common shares on the TSX Venture Exchange is CAD$0.52 or greater per common share during any 10 consecutive trading day period the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the warrantholders, and the warrantholders will have no further rights to acquire any common shares of the Company under the Warrant.

The Company plans to use the proceeds of the private placement for further exploration of the Philadelphia Property in Mohave County, Arizona, and the Ramsey silver mine in La Paz County, Arizona, as well as for general working capital purposes.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX.

We seek Safe Harbor.

http://arizonasilverexploration.com/