Arizona Silver Announces Acceleration of Expiry of Warrants and Grant of Stock Options
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE
UNITED STATES
ARIZONA SILVER ANNOUNCES ACCELERATION OF
EXPIRY OF WARRANTS AND GRANT OF STOCK OPTIONS
Vancouver, British Columbia, August 31, 2020 – Arizona Silver Exploration Inc. (TSXV:
AZS) (OTCQB: AZASF) The Company today announces that it has elected to accelerate the
expiry date of the warrants (the "Warrants") issued as part of its private placement unit offering
(the "Private Placement") announced on December 30, 2020. The warrants currently expire on
January 3, 2022 at the price of $0.15 per warrant share.
Pursuant to the terms of the Private Placement, if the closing price of the Company’s shares on the
TSXV is $0.35 per share or greater for ten (10) consecutive trading days, the Company is entitled
to accelerate the expiry date of the Warrants to a date thirty (30) days from the date notice of such
acceleration is provided to holders of Warrants. The Company has elected to provide notice of
such acceleration to the holders of Warrants.
This press release constitutes notice to Warrant holders of the new expiry time. Any Warrants
remaining unexercised after the new expiry time will be cancelled.
Effective today, the Warrants issued to the purchasers pursuant to the Private Placement are set to
expire at 4:30 p.m. (Vancouver time) on September 30, 2020.
To date a total of 1,900,000 Warrants have been exercised for total proceeds of $ 285,000.
Although it is unknown how many Warrants will be exercised, if all of the Warrants are exercised,
the Company will receive additional proceeds of $ 227,071 and a total of 1,513,809 additional
common shares of the Company will be issued.
How to Exercise Warrants
Warrant holders who wish to exercise their Warrants should instruct their investment advisor and
be prepared to provide payment to their advisor firm equal to the exercise price for each warrant
exercised. Investors should consult with their investment ad visor to confirm the time required to
complete this process and other costs associated with the exercise, if any.
Warrant holders who hold a physical certificate wishing to exercise Warrants need to provide to
the Company on or before September 30, 2020 a certified cheque, bank draft or money order
payable to Arizona Silver Exploration Inc. together with the Warrant certificate with the exercise
appended to the certificate duly completed.
Grant of Stock Options
The Company also wishes to announce that it has granted incentive stock options to purchase a
total of 1,475,000 common shares at price of $0.355 , for a period of five years to its officers,
directors, and certain consultants in accordance with the provisi ons of its stock option plan.
Arizona Silver Exploration is pleased to offer these options to our dedicated team who have
demonstrated leadership and excellence in their individual areas. Shareholder values have
increased in 2020 and drilling continues.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX) have approved this release.
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Mike Stark, CEO, President
Phone: (604) 833-4278
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward-looking statements or information. All statements other
than statements of historical fact included in this release are forward -looking statement s that
involve various risks and uncertainties. Forward -looking statements in this news release include
statements in relation to the timing, cost and other aspects of the 2020 exploration program;
objectives or expectations of the Company. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements. Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.