Arizona Silver arranges $700,000 private placement

Sep 17, 2019

2019-09-17 12:10 ET – News Release

Mr. Mike Stark reports

ARIZONA SILVER ANNOUNCES PROPOSED $700,000 PRIVATE PLACEMENT

Subject to the approval of the TSX Venture Exchange, Arizona Silver Exploration Inc. proposes to raise up to $700,000 through a non-brokered private placement .

The private placement will be comprised of up to 3,684,210 units of the Company (the ” Units “) at a price of $0.19 per Unit for total proceeds of up to $700,000. 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 $0.27 per share for a period of two 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 $0.35 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 30 th 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 and the Ramsey silver mine in La Paz County, both in the state of Arizona, USA, and for general working capital purposes.

The Company also announces it has entered into a Consulting Services Agreement with Cronus Consulting Corp. (the ” Consultant “) whereby the Consultant has been engaged to provide certain strategic guidance and introduction to various key groups and individuals. The Consulting Services Agreement has a 12-month term that can be terminated by either party at any time upon thirty (30) days written notice.

We seek Safe Harbor.

http://arizonasilverexploration.com/