Alamos Gold announces acquisition of Orford Mining

Alamos Gold announced that it has entered into a definitive agreement pursuant to which Alamos will acquire all of the issued and outstanding shares of Orford Mining by way of a court-approved plan of arrangement. The acquisition will consolidate Alamos’ existing ownership of Orford shares through which the company will add the highly prospective Qiqavik Gold Project, located in Quebec, Canada. Alamos will also be acquiring interests in several exploration stage critical mineral and gold projects in Quebec, including West Raglan, the Joutel Properties, and Nunavik Lithium. Under the terms of the Agreement, Orford shareholders will receive 0.005588 of an Alamos common share for each Orford share. This represents a value of C10c per Orford share, based on the 20-day volume weighted average trading price of Alamos’ shares on the Toronto Stock Exchange immediately preceding January 15, 2024. Alamos currently owns 61,660,902 Orford shares, representing approximately 27.5% of Orford’s basic common shares outstanding. Excluding Alamos’ existing ownership of Orford, Alamos expects to issue approximately 0.9M shares for total consideration of C$16M.