Arizona Metals closes $49.8 million bought deal public offering

November 24, 2021

On November 12, 2021, Arizona Metals Corp. (TSXV:AMC) (“Arizona Metals”) announced the closing of it bought deal public offering of 11,725,000 common shares (“Common Shares”) at a price of C$4.25 per Common Share (the “Offering Price”), consisting of 8,625,000 Common Shares issued from treasury for gross proceeds of C$36,656,250, which includes the full exercise of the over-allotment option by the underwriters (the “Treasury Offering”), and 3,100,000 Common Shares sold by certain existing shareholders for gross proceeds of C$13,175,000 (the “Secondary Offering” and together with the Treasury Offering, the “Offering”). 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”).

Arizona Metals Corp owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties.

Miller Thomson advised the Underwriters with a team comprised of Lawrence Wilder, Adam Kline, Brandon Meyer and Sarah DeGenova (Capital Markets & Securities), as well as Manjit Singh (Corporate Tax).