Arizona Gold & Silver Announces Closing Of Oversubscribed Non-Brokered Private Placement

Core Points - Arizona Gold & Silver Inc. has successfully closed a non-brokered private placement, raising total gross proceeds of CDN$1,999,924.80 by issuing 6,666,416 units at a price of $0.30 per unit [1][3] - Each unit consists of one common share and one transferable common share purchase warrant, with each warrant exercisable at a price of $0.40 per share for three years [2] - The proceeds from the private placement will be utilized for further exploration of the Philadelphia Property in Mohave County and for general working capital purposes [3] Financial Details - The company paid finder's fees totaling $26,451 in cash, along with 266,667 shares and 26,667 common share purchase warrants, each warrant allowing the holder to acquire one common share at $0.40 for three years [4] - All securities issued are subject to a four-month hold period [5] Regulatory Information - The private placement and finder's fees are subject to the approval of regulatory authorities [4] - The securities have not been registered under the United States Securities Act of 1933 and cannot be offered or sold within the United States without registration or an applicable exemption [7][8]