Azco Mining gets extension on registration statement deadline related to 2006 convertibles offering

By Sheri Kasprzak

New York, Feb. 26 - Azco Mining Inc. has received an extension on the deadline to register the underlying shares connected to a 2006 private placement of convertible notes.

The company's chief executive officer, W. Pierce Carson, said in a statement released Monday that the company is current in its financial reporting and "are in a position to meet the new timetable."

Azco now has until April 30 to file a registration statement for the $3.5 million in senior secured convertible notes, pushed back from Nov. 5, 2006. The registration statement must now be declared effective by July 31, moved back from Feb. 4.

Connected to the extension, the investors received warrants for 1.75 million shares, exercisable at $1.25 each for five years.

The 7% notes were issued in March and September 2006, are due Jan. 1, 2008 and are convertible into common shares at $1.00 each.

Based in Glendale, Ariz., Azco is a gold, copper and industrial minerals exploration company.

Azco's stock gave up 4 cents, or 3.25%, on Monday to close at $1.19 (Pink Sheets: AZMN).

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