Minera Alamos Announces Closing of $6 Million Financing with Osisko Gold Royalties
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - January 13, 2020) - Minera Alamos Inc. (TSXV: MAI) ("Minera" or the "Company") is pleased to announce it has closed the private placement announced on December 6th, 2019 consisting of 30,000,000 common shares of the Company (the "Common Shares") at a price of $0.20 per Common Share for aggregate gross proceeds of $6,000,000 (the "Offering") with Osisko Gold Royalties Ltd. ("Osisko"). As a result of the Offering, Osisko has increased its shareholdings of the Company's Common Shares from 12.3% to 18.7%.
Minera Alamos intends to use the net proceeds of the Offering as a component of the capital funding required for building the Company's Santana gold mine in Sonora, Mexico.
No finder's fees were paid in conjunction with the Offering.
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About Minera Alamos Inc.
Minera Alamos is an advanced-stage exploration and development company with a portfolio of high-quality Mexican development assets, including the La Fortuna open-pit gold project in Durango (positive PEA completed and change of land use permit granted) and the Santana open-pit heap-leach development project in Sonora (permits received).
The Company's strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
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