Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) said on Monday that it has closed its previously announced financing with two arm's-length institutional investors, Sorbie Bornholm LP and Sorbie Investments LLP, raising gross proceeds of C$18 million. The financing was completed at a price of $0.80 per unit, with each unit consisting of one common share and one-half of one common share purchase warrant.