South32 closes strategic investment in Arizona Mining
Published by Louise Mulhall,
Editorial Assistant
Global Mining Review,
South32 Limited has announced that its subscription for 45 000 000 common shares in Arizona Mining Inc. (TSX: AZ) (Arizona Mining) at C$2.45 per share for a total investment of C$110.3 million has closed.
South32 now owns approximately 15% of the shares in Arizona Mining on a non-diluted, post subscription basis.
The Placement proceeds will be used to advance the Hermosa Project, in particular the Taylor Deposit to the feasibility and permitting stage.
Read the article online at: https://www.globalminingreview.com/finance-business/19052017/south32-closes-strategic-investment-in-arizona-mining/
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