TORONTO, April 04, 2024 (GLOBE NEWSWIRE) — Alamos Gold Inc. (“Alamos”) (TSX:AGI; NYSE:AGI) and Argonaut Gold Inc. (“Argonaut”) (TSX:AR) today announced the closing of their previously announced non-brokered private placement, pursuant to which Alamos subscribed (the “Private Placement”) for 174,825,175 common shares of Argonaut (the “Acquired Shares”), representing approximately 13.8% of Argonaut’s total outstanding common shares (the “Common Shares”) after giving effect to the Private Placement. The Acquired Shares were acquired at a price of C$0.286 per share, for total gross proceeds to Argonaut of C$50,000,000.
The Private Placement was conducted pursuant to the terms of the arrangement agreement between Alamos and Argonaut entered into on March 27, 2024 (the “Arrangement Agreement”) pursuant to which Alamos will acquire all of the issued and outstanding shares of Argonaut pursuant to a court approved…
