Business
Minera Alamos Inc. Announces Closing of Guadelupe Option Assignment and Acquisition of Common Shares of Prime Mining Corp.
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - August 30, 2019) - Minera ...
About this update from Minera Alamos Inc.
[{"type":"text","content":"Minera Alamos Inc. Announces Closing of Guadelupe Option Assignment and Acquisition of Common Shares of Prime Mining Corp.Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - August 30, 2019) - Minera Alamos Inc. (TSXV: MAI) (the \"Corporation\") announces that it has acquired 9,450,000 common shares in the capital of Prime Mining Corp. (\"Prime\") at a deemed price of $0.30 per common share as consideration for the assignment of an option agreement to which the Corporation is a party (the \"Transaction\") see news releases dated April 24th 2019 and June 26th 2019.Prior to the Transaction, the Corporation did not own any common shares of Prime. Following the Transaction, the Corporation owned or controlled 9,450,000 common shares of Prime representing approximately 16.1% of the outstanding common shares of Prime. As part of the Transaction, the Corporation acquired warrants to purchase up to 3,350,000 additional common shares of Prime at a price of $0.50 per common share (the \"Prime Warrants\"). The securities issued pursuant to the Transaction will be subject to a statutory hold period in Canada expiring four months and one day from the closing date, being December 28th, 2019.The Corporation does not presently intend to make further investments or divestitures in Prime. However, the Corporation may in the future take such actions in respect of its holdings in Prime as it may deem appropriate based on its assessment of market conditions and any other conditions it considers relevant at the time, including the exercise of the Prime Warrants, the purchase of additional Common Shares through open market or privately negotiated transactions or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable securities laws.A copy of the early warning report in respect of the Corporation's acquisition will be filed with the applicable securities commissions and can be found on Prime's profile at www.sedar.com.For Further Information Please Contact:Minera Alamos Inc.Doug Ramshaw, PresidentTel: 604-600-4423Email: [email protected]: www.mineraalamos.comCaution Regarding Forward-Looking StatementsThis news release may contain forward-looking information and the Corporation cautions readers that for...