Arizona Gold & Silver closes C$12M strategic investment from Evolution Mining

Mining Gold & Silver Written by: Emily Jarvie 09:02 Thu 20 Aug 2026 --> Proactive has a commercial relationship with Arizona Gold & Silver Inc. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Arizona Gold & Silver Inc ( TSX-V:AZS OTCQB:AZASF ) View Price & Profile Arizona Gold & Silver closes C$12M strategic investment from Evolution Mining Published: 09:02 20 Aug 2026 EDT Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) announced that it has closed its previously announced strategic private placement with Evolution Mining Gold Operations, raising approximately C$12 million to fund exploration at its Philadelphia Gold-Silver Project in Arizona. Evolution, a wholly owned subsidiary of Evolution Mining Limited, acquired about 15.1 million units of Arizona Gold & Silver at C$0.80 per unit. Each unit consists of one common share and one-half of a common share purchase warrant, with each full warrant exercisable at C$1 for three years. Following the investment, Evolution holds approximately 9.9% of Arizona Gold & Silver on a non-diluted basis. Assuming the exercise of all warrants held by Evolution, its ownership would represent approximately 14.1% on a partially diluted basis. Arizona Gold & Silver plans to use at least 90% of the gross proceeds, or approximately C$10.8 million, to accelerate exploration at the Philadelphia Project in the historic Oatman Mining District. Up to 10%, or approximately C$1.2 million, will be allocated to general and administrative expenses. “This strategic investment marks an important milestone for Arizona Gold & Silver," the company's CEO Mike Stark said in a statement. “Evolution Mining is a C$23 billion globally recognized gold producer with an outstanding technical reputation. Its investment reflects confidence in our team, our assets, and our long-term vision.” The companies have also entered into an investor rights agreement that, subject to customary conditions and ownership thresholds, provides Evolution with participation rights in future equity issuances to maintain its pro rata interest and top-up rights in connection with certain dilutive events. Evolution will also have the right to nominate one director to Arizona Gold & Silver's board, or appoint a board observer instead, and participate in a technical committee in an advisory capacity. The agreement also provides Evolution with a first right of refusal over the sale of a 10% or greater interest in the Philadelphia Project. Evolution did not own any Arizona Gold & Silver securities before the investment. The company acquired the units for investment purposes and indicated that it may increase or decrease its ownership in the future depending on its assessment of Arizona Gold & Silver's business, prospects, financial condition and capital requirements. The TSX Venture Exchange has conditionally approved the investment, which r