Vancouver, B.C., November 11, 2016 – Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) is pleased to announce that as a result of strong demand, it has increased the size of its previously announced bought deal offering to 11,805,000 common shares at a price of $3.05 per common share for aggregate gross proceeds … Continued
Vancouver, B.C., November 11, 2016 – Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) is pleased to announce that as a result of strong demand, it has increased the size of its previously announced bought deal offering to 11,805,000 common shares at a price of $3.05 per common share for aggregate gross proceeds of C$36,005,250 (the “Offering”). The Offering is being made through a syndicate of underwriters led by Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc. and RBC Capital Markets, and including Raymond James Ltd.
Arizona Mining plans to use the net proceeds of the Offering to fund further drilling, for engineering, design and technical work for its Hermosa Project, and for general working capital purposes.
The common shares to be issued under the Offering will be offered by way of a short form prospectus in all of the provinces of Canada (excluding Quebec) and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).
The Offering is scheduled to close on or about December 6, 2016 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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