Arizona Gold increases private placement to $2-million

Executive Summary

• Arizona Gold & Silver Inc. announced an over‑allotment, increasing its non‑brokered private placement to 6,666,666 units at $0.30 per unit, raising total proceeds of approximately $2 million.
• Each unit consists of one common share and one transferable warrant (exercise price $0.40, exercisable for 36 months).
• Net proceeds will be allocated to exploration projects (including the Philadelphia gold‑silver property) and general working capital.

Key Details

• Over‑Allotment Size: Increased from 3,333,333 units to 6,666,666 units.
• Pricing: $0.30 per unit; total gross proceeds ≈ $2 million.
• Unit Composition: 1 common share + 1 transferable warrant per unit.
• Warrant Terms: Right to purchase one additional common share at $0.40 per share, exercisable for 36 months from issuance.
• Hold Period: All securities subject to a lock‑up of four months and one day from closing.
• Finder’s Fees: May be paid in cash or additional warrants; both the placement and fees require regulatory approval.
• Use of Proceeds: Dedicated to project exploration (notably the Philadelphia property) and general working capital.

Notable Quotes

(No executive quotes provided in the release.)