Arizona Gold arranges $1-million private placement

Executive Summary

• Arizona Gold & Silver Inc. announced a non‑brokered private placement of up to 3,333,333 units at $0.30 per unit, targeting gross proceeds of up to $1 million.
• Each unit includes one common share and one warrant to purchase an additional share at $0.40 for three years after closing; finders’ fees may be paid in cash or comparable warrants.
• Proceeds will fund further exploration and drilling on the Philadelphia property in Mohave County, Arizona, support other projects, and provide general working capital.

Key Details

• Offering size: Up to 3,333,333 units.
• Price per unit: $0.30 (equivalent to $0.15 per common share plus warrant component).
• Gross proceeds target: Up to $1 million.
• Unit composition: 1 common share + 1 common share purchase warrant.
• Warrant terms: Right to purchase one additional common share at $0.40, exercisable for three years post‑closing.
• Finder’s fees: May be paid in cash or warrants on the same terms as the private placement warrants.
• Use of proceeds:
• Further exploration and drilling of the Philadelphia property (Mohave County, AZ).
• Advancement of other company projects.
• General working capital.
• Statutory hold period: Securities subject to a four‑month‑plus‑one‑day hold pursuant to securities laws.
• Closing conditions: Subject to receipt of all required regulatory approvals.

Notable Quotes

(No executive quotes provided in the release.)