Business
Minera Alamos Announces Strategic Partnership With Osisko Gold Royalties, Concurrent Private Placement and Corporate Update
TORONTO, ONTARIO--(Marketwired - May 30, 2017) - Minera Alamos Inc. (TSX VENTURE:MAI) (the "Company" or "Minera Alamos") is pleased to announce that the Company
About this update from Minera Alamos Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - May 30, 2017) - Minera Alamos Inc. (TSX VENTURE:MAI) (the \"Company\" or \"Minera Alamos\") is pleased to announce that the Company has entered into and completed an agreement with Osisko Gold Royalties Ltd (\"Osisko\"), pursuant to which Osisko has purchased, on a private placement basis, 22,045,000 common shares of the Company (the \"Common Shares\") at a price of $0.15 per Common Share (the \"Issue Price\") for gross proceeds of $3,306,750 (the \"Osisko Placement\"). As a result of the Osisko Placement, Osisko owns approximately 19.9% of the common shares of Minera Alamos on a non-diluted basis. Concurrent to the Osisko Placement, Minera Alamos is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (\"Haywood Securities\"), as lead agent on behalf of a syndicate of agents (collectively, the \"Agents\"), pursuant to which the Agents have agreed to sell, on a best efforts private placement basis, up to 23,333,333 Common Shares at the Issue Price, for additional gross proceeds of up to $3,500,000 (the \"Brokered Offering\" and together with the Osisko Placement, the \"Financings\"). Minera Alamos has granted the Agents an option, exercisable in whole or in part by the Agents at any time up to 48 hours prior to the closing of the Brokered Offering, to sell up to an additional 20% of the Brokered Offering in Common Shares at the Issue Price. Darren Koningen, President of Minera Alamos, commented: \"this is a transformative announcement for Minera Alamos and marks the beginning of the next phase of our Mexican production and growth strategy. We are pleased to welcome Osisko as a significant shareholder of the Company and a strong partner to pursue near-term gold production at La Fortuna. We look forward to working with Osisko to fast-track La Fortuna toward production and expand our presence in Mexico organically and through additional acquisitions.\" Sean Roosen, Chairman and CEO of Osisko, commented: \"we are pleased to partner with Minera Alamos as a platform for growth in Mexico and add an option to acquire another near-term production royalty to our portfolio. We look forward to working with Darren and his team to advance La Fortuna as well as other future opportunities in Mexico and elsewhere in Central and South America as they become available.\" Inves...