Arizona Silver Exploration Inc (CVE:AZS) (OTCQB:AZASF) announced bright news Wednesday that it has closed its oversubscribed private placement, raising C$296,917 in a non-brokered private placing.
The company plans to use the proceeds for further exploration at its Ramsey silver mine in La Paz county and the Sycamore Canyon property in Graham county, both in Arizona, and for general working capital.
READ: Arizona Silver arranges $250,000 private placement
The Vancouver-based company sold 2,699,245 shares at a price of $0.11 per share, raising a total of C$296,917.
Arizona Silver shares were at C$0.12 on Wednesday.