Minera Alamos Inc. (TSX.V: MAI)
Has entered into an agreement with National Bank Financial Inc. (NBF) to act as sole underwriter, pursuant to which NBF will purchase 15,874,000 common shares of the company at a price of 63 cents per common share, on a bought deal private placement basis, for aggregate gross proceeds to the company of approximately $10.0-million.
This has subsequently been raised to 20,635,000 shares to raise C$13 million. Click HERE
.
.
.
.
.
.
Minera Alamos arranges $10M bought deal financing
2020-08-18 07:52 ET – News Release
.
Minera Alamos announces C$10 million bought deal placement of shares, which has been subsequently raised to C$13 million
.
Minera Alamos Inc. has entered into an agreement with National Bank Financial Inc. (NBF) to act as sole underwriter, pursuant to which NBF will purchase 15,874,000 common shares of the company at a price of 63 cents per common share, on a bought deal private placement basis, for aggregate gross proceeds to the company of approximately $10.0-million.
.
The company has also granted NBF an option exercisable at any time prior to the closing of the offering to purchase for placement up to an additional 2,381,100 common shares at the offering price, for additional gross proceeds of up to $1.5-million. This has now been extended to 20 million shares for C$13 million, see HERE
.
The company intends to use the net proceeds of the offering to advance construction of its 100-per-cent-owned Santana gold development project located in Sonora, Mexico; further exploration activities at its other 100-per-cent-owned development projects located in Mexico; and general corporate purposes.
.
The offering is scheduled to close on or about Sept. 3, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.
.
The common shares to be issued under the offering will have a hold period of four months and one day from closing.
.
About Minera Alamos Inc.
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The company has a portfolio of high-quality Mexican assets, including the 100-per-cent-owned Santana open-pit, heap-leach development project in Sonora that is currently under construction, and which is expected to have its first gold production in early 2021.
The newly acquired 100-per-cent-owned Cerro de Oro oxide gold project in northern Zacatecas that has considerable past drilling and metallurgical work completed and could enter the permitting process rapidly.
The La Fortuna open-pit gold project in Durango (100% owned) has an extremely robust and positive preliminary economic assessment (PEA) completed and the company is nearing the end of the permitting process for the project. A construction decision on La Fortuna could be made in late 2020 or early 2021, highlighting the organic growth the existing project portfolio can provide to the overall production profile.
Minera Alamos is built around its operating team that together brought three mines into production in Mexico over the last 12 years.
The company’s strategy is to develop very low capex assets while expanding the projects’ resources and continuing to pursue complementary strategic acquisitions.
andrew@city-investors-circle.com
.
.
.