South32 Ltd. acquires Arizona Mining Inc for US$1,303M

CANADA - South32 Ltd. of Australia agreed to acquire the remaining 83% interest or 259.924 mil common shares, which it did not already own, in Arizona Mining Inc, a Vancouver-based silver ore mine operator, for CAD 6.2 (USD 4.697) in cash per share, or a total CAD 1.773 bil (USD 1.343 bil), via scheme of arrangement.

Date Announced: 06/17/2018
Deal Status (as of publication date): Pending
Deal Value (mil): $1,303.11

ACQUIRER ADVISORS*
Canaccord Genuity (Financial Advisor)
Goldman Sachs & Co. (Financial Advisor)
King & Wood Mallesons (Legal Advisor)
Osler, Hoskin & Harcourt LLP (Legal Advisor)
Perkins Coie LLP (Legal Advisor)

TARGET ADVISORS*
Maxit Capital LP (Financial Advisor)
Scotiabank (Financial Advisor)
Davies Ward Phillips & Vineberg LLP (Legal Advisor)

South32 Ltd., located in Perth, Western Australia, Australia, is a metals and mining company. The Company's segments include Worsley Alumina, which includes an integrated bauxite mine and alumina refinery in Western Australia; South Africa Aluminium, which includes an aluminum smelter in Richards Bay; Brazil Alumina, which includes an alumina refinery in Brazil; Mozal Aluminium, including an aluminum smelter in Mozambique; South Africa Energy Coal, including open-cut and underground energy coal mines and processing operations in South Africa; Illawarra Metallurgical Coal, which includes underground metallurgical coal mines in New South Wales; Australia Manganese, which produces manganese ore in the Northern Territory and manganese alloys in Tasmania; South Africa Manganese, which produces manganese ore and alloy in South Africa; Cerro Matoso, including an integrated laterite ferronickel mining and smelting complex in Colombia, and Cannington, including silver, lead and zinc mine in Queensland.

AZ Mining Inc. is a silver mining company, headquartered in Vancouver, British Columbia. It owns an 80% interest in the Hermosa silver project in Arizona. It is engaged in the acquisition, exploration and if warranted, development of natural mineral resource properties. It operates through mineral exploration and development segment. It is focused on the exploration and development of Hermosa Property. The Hermosa Property is a polymetallic mineral exploration project located in Santa Cruz County approximately 50 miles southeast of Tucson, Arizona and approximately eight miles north of the United States-Mexico border. Its Hermosa Property consists of deposits, including the Taylor Deposit and the Central Deposit. The Taylor Deposit is a lead-zinc-silver carbonate replacement deposit, and Central Deposit is a silver-manganese manto oxide development project. The Company holds approximately 25 patented mining claims totaling over 450 acres. The Company has no revenues from operations. The Company's subsidiary is Arizona Minerals Inc. The Company was founded in 1975. 

*List of advisors are those known at press time.