Monday, June 18, 2018

Arizona Mining Inc.- AZ.t

Arizona Mining Inc.- AZ.t is focused on the exploration and development of its 80% owned Hermosa Project located in Santa Cruz County, Arizona.
On June 18, 2018 the company released News

South32 Ltd. and Arizona Mining Inc. have entered into an agreement for South32 to acquire the remaining 83 per cent of issued and outstanding shares of Arizona Mining via a plan of arrangement, representing a fully financed, all-cash offer of $1.3-billion (U.S.) ($1.8-billion). The offer price of $6.20 per share represents a 50-per-cent premium to the closing price on June 15 and implies a total equity value for Arizona Mining of $1.6-billion (U.S.) ($2.1-billion). Directors and officers of Arizona Mining who own 34 per cent of the common shares on issue have entered into voting support agreements, and the directors of Arizona Mining entitled to vote have unanimously recommended to their shareholders that they vote in favour of the transaction.