South32 completes acquisition of Arizona Mining

VANCOUVER, British Columbia, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) announced today the completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”) whereby South32 Limited (“South32”) has acquired all of the issued and outstanding common shares of Arizona Mining not already owned by South32 for C$6.20 per common share.

With the Arrangement now complete, Arizona Mining’s common shares will be de-listed from the Toronto Stock Exchange at the close of trading on August 10, 2018.  Arizona Mining will also apply to cease to be a reporting issuer under applicable Canadian securities laws.

Former shareholders of Arizona Mining who have questions or require assistance with submitting their Arizona Mining shares in connection with the transaction may direct their questions to Computershare Investor Services Inc., which is acting as depositary in connection with the transaction, by telephone at 1 (800) 564-6253 or by email at corporateactions@computershare.com.

For more information on the Arrangement, please see the news releases issued by Arizona Mining on June 17, 2018 and July 3, 2018, along with Arizona Mining’s management information circular dated July 6, 2018 prepared in connection with the Arrangement, all of which are available under Arizona Mining’s profile at www.sedar.com.

About South32

South32 is a globally diversified mining and metals company.  We produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in Australia, Southern Africa and South America. We also have a well advanced zinc, lead and silver exploration opportunity in North America and several partnerships with junior explorers with a focus on base metals. Our purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come, and to be trusted by our owners and partners to realise the potential of their resources.

Further information on South32 can be found at www.south32.net. 

About Arizona Mining

Arizona Mining Inc. is a junior resource company existing under the laws of British Columbia and engaged in the exploration and development of mineral resources. The Company is currently focused on the exploration and development of the Hermosa Project, comprising the Taylor Deposit and the Central Deposit. The Taylor Deposit is a zinc, lead and silver resource and is the Company’s primary focus. The Central Deposit is a zinc, silver and manganese resource. The Hermosa Project is located in Santa Cruz County about 50 miles southeast of Tucson, Arizona and about eight miles north of the United States – Mexico border. For more information on Arizona Mining, please visit www.arizonamining.com.

For additional information in respect of this news release, please contact:

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws and which are based on the currently available information as of the date hereof, unless otherwise stated. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” or the negative of such terms and similar expressions are intended to identify forward-looking statements or information.