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Arizona Silver Exploration reprices C$700,000 private placing

Philadelphia is in Mohave county, while the Ramsey silver project is in La Paz county

Arizona Silver Exploration Inc. -
In a statement, the firm said it will issue up to seven million units at C$0.10 each for gross proceeds of C$700,000

Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) said it has repriced its previously announced private placing to raise funds for further exploration of the Philadelphia property and the Ramsey silver mine, both in Arizona. 

Philadelphia is in Mohave county, while the Ramsey silver project is in La Paz county. 

In a statement, the company said it will issue up to seven million units at C$0.10 each for gross proceeds of C$700,000.

WATCH: Full interview: Arizona Silver caps off a busy 2019 preparing to expand on their Philadelphia story

Each unit consists of one company share and one-half of one transferable share purchase warrant, with each whole warrant exercisable at C$0.15 each for two years from closing.

However, if the closing price of the company's shares on the TSX Venture Exchange is C$0.35 or greater per share during any 10-consecutive-trading-day period, the warrants will expire at 4 pm (Vancouver time) on the 30th day after the date on which the company provides notice of such accelerated expiry to the warrant holders, and the warrant holders will have no further rights to acquire any shares of the company under the warrant.

The funds will also be used for general working capital purposes.

Quick facts: Arizona Silver Exploration Inc.

Price: 0.34 CAD

TSX-V:AZS
Market: TSX-V
Market Cap: $16.83 m
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Arizona Silver Exploration will be going back to Philadelphia after drilling...

Arizona Silver Exploration (TSXV: AZS) (OTCQB: AZASF) VP of Exploration Greg Hahn joined Steve Darling from Proactive with some results from the company’s drill program at their Philadelphia project. Hahn discusses the next step the company is planning. Hahn also told Proactive they are...

on 3/6/20

2 min read