Arizona Mining Announces C$110 Million Private Placement With South32

T.AZ, Arizona Mining, zinc

Arizona Mining Inc.(TSX:AZ) is pleased to announce it has signed a binding private placement agreement for 45 million common shares in the Company (the “Shares”) at a price of C$2.45 per Share with South32 Limited (“South32”) for gross proceeds of C$110.3 million (the “Placement”).

South32 will subscribe for 45 million Shares of Arizona Mining at a price of C$2.45 per Share, representing approximately 15% of the Company’s outstanding Shares on a non-diluted, post-subscription basis, for a total subscription price of C$110.3 million.

The proceeds will be used to add drill rigs and fully test the Taylor Deeps, Trench Vein System and other high priority targets, as well as to advance the Company’s Taylor Deposit to the feasibility and permitting stage.
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