Alamos Gold, Inc. (TSE:AGI) has released an update.
Alamos Gold Inc. has completed a significant non-brokered private placement with Argonaut Gold Inc., acquiring 174,825,175 common shares at C$0.286 per share for a total investment of C$50 million, which amounts to 13.8% of Argonaut’s common shares. The transaction is part of a larger plan where Alamos will eventually acquire all outstanding shares of Argonaut. The funds from this placement will primarily bolster Argonaut’s liquidity and support its Magino Gold mine operations, along with other North American projects.
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