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Arizona Gold & Silver secures C$12 million investment from Evolution Mining, which will take a nearly 10% stake to fund drilling at its Philadelphia Gold-Silver Project
The deal, announced Tuesday, involves Evolution Mining Gold Operations Ltd acquiring over 15 million units of Arizona Gold & Silver at C$0.80 per unit through a non-brokered strategic private placement. Arizona Gold & Silver plans to use at least 90% of the proceeds (approximately C$10.8 million) to accelerate exploration at the Arizona project, with the remaining 10% for general and administrative expenses.
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