On July 4, 2024, Arizona Gold & Silver Inc. closed the transaction. The company announced that it has issued 2,626,000 units at a price of CAD 0.25 per Unit for additional gross proceeds of CAD 656,500 in second and final tranche. Each Unit consists of one common share and one-half of one non-transferable Common Share purchase warrant.

Each Warrant is exercisable by the holder to acquire one additional Common Share for a period of 12 months from the date of issuance at a price of CAD 0.50 per Common Share. In connection with the Second Tranche, the Company paid cash commissions of CAD 7,000 to certain finders. All securities issued pursuant to the Second Tranche are subject to a hold period expiring on November 5, 2024, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

In aggregate under the Private Placement, the Company issued 3,450,000 Units for aggregate gross proceeds of CAD 862,500.