Arizona Gold and Silver CEO Mike Stark joined Steve Darling from Proactive to announce the company has entered into a binding agreement with institutional investors Sorbie Bornholm LP and Sorbie Investments LLP for a C$18 million financing. The transaction remains subject to final approval from the TSX Venture Exchange and will not result in the creation of a new control position. Stark noted the investment represents the largest commitment to date from Sorbie and is structured as a 22.5 million unit placement at an approximate 18% premium. A portion of the shares will also form the basis of a Sharing Agreement, designed to provide the company with additional non-dilutive upside as key milestones are achieved. Proceeds from the financing will be used to advance exploration and development at the company’s flagship Philadelphia Gold-Silver Project in Arizona. Planned activities include expanding drilling programs led by Senior Vice President of Exploration Lex Lambeck, targeting p...