Golden Minerals

Arizona Silver Announces Closing of Oversubscribed Private Placement

Vancouver, British Columbia / TheNewswire / February 13, 2019 - Arizona Silver Exploration Inc. (the "Company" or "Arizona Silver") (TSX-V: AZS) (OTCQB: AZASF) is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") of 2,699,245 common shares (the "Shares") at a price of $0.11 per Share raising total gross proceeds of $296,917 in an oversubscribed round.

Insiders of the Company subscribed for a total of 471,432 Shares, with Greg Hahn, President, CEO and a director of the Company, subscribing for 271,432 Shares; Mike Stark, Chairman and a director of the Company, subscribing for 100,000 Shares and Dong H. Shim, CFO of the Company, subscribing for 100,000 Shares. As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company relied upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than $2,500,000" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

The Company plans to use the proceeds of the Private Placement for further exploration of the Ramsey Silver Mine in La Paz County & Sycamore Canyon property in Graham County, both in Arizona and for general working capital purposes.

All securities issued are subject to a four-month hold period.

On behalf of the Board of Directors:

ARIZONA SILVER EXPLORATION INC.

Greg Hahn, President and CEO

Contact: Mike Stark, Chairman and Director
Phone: (604) 833-4278

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

Arizona Silver Exploration

Last Trade: C$0.17
Daily Change: -0.01 -5.56
Daily Volume: 94,050
Market Cap: C$5.860M
Arizona Silver Exploration Inc. Update on 2020 Drilling at the Philadelphia High-Grade Gold-Silver Vein Property
Arizona Silver Exploration Inc. Enters into Purchase and Sale Agreement on Philadelphia High-Grade Gold-Silver Vein Property Mohave County, Arizona
Arizona Silver Exploration Inc.: Drilling Scheduled to Commence at the Philadelphia High-Grade Gold-Silver Vein in Mohave County, Arizona
Arizona Silver Announces Closing of Non-Brokered Private Placement
Arizona Silver Exploration Inc. Initiates UAV-based Airborne Magnetic Survey at the Philadelphia High-Grade Gold-Silver Vein in Mohave County, Arizona
Arizona Silver Announces New High-Grade Gold-Silver Intercepts in Mohave County, Arizona
Arizona Silver Announces that it is proceeding with its Private Placement and Terminates an Agreement
Arizona Silver Exploration Inc. Completes First Two Core Holes at Philadelphia High-Grade Gold-Silver Vein in Mohave County, Arizona
Arizona Silver Exploration Inc.: Core Drill Mobilized to Philadelphia High-Grade Gold-Silver Vein in Mohave County, Arizona
Arizona Silver Exploration Inc.: Core Drill Mobilized to Philadelphia High-Grade Gold-Silver Vein in Mohave County, Arizona
Arizona Silver Announces Proposed $700,000 Private Placement
Arizona Silver Exploration Inc.: Permits Received for Drilling the Next 24 Holes at the Philadelphia Gold-Silver Project in Mohave County, Arizona; Options Granted

Nexus Gold

Nexus Gold

Nexus Gold is an active exploration and development company building a highly prospective portfolio of gold projects in premier mining districts throughout West Africa and Canada. The Company has consolidated a significant district-scale land position in gold-rich Burkina Faso and also holds strategic land positions in the prolific Red Lake and Bridge River mining camps of Canada. Nexus is led by a proven geological team with discovery success and Sandstorm Gold has taken a... LEARN MORE

No Internet Connection