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Source: Arizona Metals Corp.
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  • Arizona Metals Corp (AMC) has closed its bought deal public offering for gross proceeds of $13,175,000
  • The company issued 11,725,000 common shares at a price of C$4.25 per share
  • Proceeds from the treasury offering will be used primarily to fund exploration expenditures at the Kay Mine in Arizona
  • Arizona Metals Corp is a mineral exploration company focused on gold and copper deposits
  • Arizona Metals Corp. (AMC) is up 2.87 per cent, trading at C$5.02 per share at 1 pm ET

Arizona Metals Corp (AMC) has closed its bought deal public offering for gross proceeds of $13,175,000.

The company issued 11,725,000 common shares at a price of C$4.25 per share, consisting of 8,625,000 shares issued from treasury and 3,100,000 shares sold by certain existing shareholders. The offering was conducted by a syndicate of underwriters co-led by Stifel GMP and Clarus Securities Inc. and included Beacon Securities Limited.

The underwriters received a 6 per cent cash commission and 258,750 non-transferable compensation options.

Proceeds from the treasury offering will be used primarily to fund exploration expenditures at the Kay Mine in Arizona as well as for working capital and general corporate purposes. 

Arizona Metals Corp is a mineral exploration company focused on gold and copper deposits. The firm’s projects are the Kay mine project and the Sugarloaf peak gold project.

Arizona Metals Corp. (AMC) is up 2.87 per cent, trading at C$5.02 per share at 1 pm ET.

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