Arizona Gold & Silver Inc. announced a non-brokered private placement to issue up to 2,222,222 units at a price of CAD 0.30 per unit for the gross proceeds of up to CAD 666,667 on February 22, 2024. Each unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of CAD 0.45 for 2 years following the closing of the Private Placement.

The Company may pay finders' fees to eligible finders for services in connection with the Private Placement in cash or warrants exercisable into shares. The terms of the Finders Warrants will be the same terms as the Warrants pursuant to the Private Placement. All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.

The closing of the Private Placement is subject to the receipt of all necessary regulatory approvals.