Minera Alamos concludes C$135 million stock offering deal
Minera Alamos, a gold production and development company, has announced the successful closing of a "bought deal" private placement of subscription receipts for gross proceeds of approximately C$135,000,300. The offering was fully subscribed and saw the participation of a syndicate of underwriters, with Stifel Canada acting as sole bookrunner.
The proceeds from the offering will be used to fund the upfront cash consideration for the acquisition of Equinox Gold Corp.'s Pan Mine, Gold Rock Project, and Illipah Project. This acquisition, anticipated to close at the end of Q3 2025, is a significant step forward for Minera Alamos, expanding its portfolio of high-quality Mexican assets.
The Company's CEO, Darren Koningen, commented on the significant interest from the investment community, expressing his appreciation for the support.
Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. The Company's current projects include the La Fortuna open pit gold project in Durango, which has a positive, robust PEA completed, and the main Federal permits are in place. The 100%-owned Santana open-pit, heap-leach mine in Sonora is currently going through the start-up of operations at the new Nicho Main deposit.
In addition to the Santana project, Minera Alamos wholly-owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed.
Each subscription receipt will be automatically exchanged for one common share and one common share purchase warrant upon satisfaction of certain conditions. The common share purchase warrant is exercisable to purchase one common share at a price of C$0.705 for a period of 36 months.
The gross proceeds from the sale of the Subscription Receipts are being held in escrow by TSX Trust Company. The Offering is subject to final acceptance of the TSX Venture Exchange.
For further information, investors can reach out to Darren Koningen, the Company's CEO, at [email protected] or 416-991-4941.
