/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 5, 2024
/CNW/ - Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF)
("Minera Alamos" or the
"Company") is pleased to announce the closing of its
previously announced "bought deal" private placement, with National
Bank Financial Inc. as lead underwriter and bookrunner, and on
behalf of a syndicate of underwriters (collectively, the
"Underwriters"), pursuant to which the Underwriters
purchased 28,333,000 common shares (each, a
"Common Share") of the Company at a price of
C$0.30 per Common Share, with a
right to arrange for substituted purchasers, pursuant to the listed
issuer financing exemption ("LIFE"), for aggregate gross
proceeds to the Company of C$8,499,900 (the "Offering").
The Offering was made pursuant to the LIFE available under
National Instrument 45-106 – Prospectus Exemptions, in each
of the provinces of Canada, other
than Québec. The Common Shares were also offered and sold in
certain offshore jurisdictions pursuant to available prospectus or
registration exemptions in accordance with applicable laws. The
Common Shares issued to substituted purchasers under the LIFE are
not subject to a statutory hold period pursuant to applicable
Canadian securities laws.
In consideration for their services, the Underwriters received a
cash commission equal to 6.0% of the gross proceeds of the
Offering.
The Company intends to use the net proceeds of the Offering to
fund the expansion and development of its Santana open-pit,
heap-leach mine in Sonora, to fund
the exploration and development activities at its Cerro de Oro
Project in northern Zacatecas and
for working capital and general corporate purposes.
There is an offering document relating to the Offering that can
be accessed under the Company's profile at www.sedarplus.ca and at
www.mineraalamos.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein in the United States. The
securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and may not be offered or sold within the United States unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration requirements is available.
About Minera Alamos Inc.
Minera Alamos is a gold
production and development Company. The Company has a portfolio of
high-quality Mexican assets, including the 100%-owned Santana
open-pit, heap-leach mine in Sonora that is currently going through the
start-up of operations at the new Nicho
Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern
Zacatecas has considerable past
drilling and metallurgical work completed and the proposed mining
project is currently being guided through the permitting process by
the Company's permitting consultants. The La Fortuna open pit gold project in Durango
(100%-owned) has a positive, robust preliminary economic assessment
(PEA) completed, and the main Federal permits are in place.
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 strategy is to develop very low capex assets while
expanding the projects' resources and continuing to pursue
complementary strategic acquisitions.
Caution Regarding Forward-Looking Information
This press release includes certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation. All information herein, other than information of
historical fact, constitutes forward-looking information.
Forward-looking information is frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results
"will", "may", "could", or "should" occur or be achieved. This
information is based on information currently available to
Minera Alamos and Minera Alamos provides no assurance that actual
results will meet management's expectations. Forward-looking
information in this press release includes, but is not limited to,
the proposed use of proceeds of the Offering; statements concerning
future exploration plans at the Company's mineral projects; the
Company's proposed business strategy; and the development and
condition of the Company's mining assets. The forward-looking
information is based on assumptions and addresses future events and
conditions that, by their very nature involve inherent risks and
uncertainties. Actual results relating to, among other things,
results of exploration, the economics of processing methods,
project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability
to complete a preliminary economic assessment which supports the
technical and economic viability of mineral production could differ
materially from those currently anticipated in forward-looking
information for many reasons. Minera
Alamos' financial condition and prospects could differ
materially from those currently anticipated in forward-looking
information for many reasons such as: an inability to finance
and/or complete an updated resource and reserve estimate and a
preliminary economic assessment which supports the technical and
economic viability of mineral production; changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with Minera Alamos' activities; and other matters
discussed in this press release and in filings made with securities
regulators. This list is not exhaustive of the factors that may
affect any of Minera Alamos'
forward-looking information. These and other factors should be
considered carefully, and readers should not place undue reliance
on Minera Alamos' forward-looking
information. Minera Alamos does not
undertake to update any forward-looking information that may be
made from time to time by Minera
Alamos or on its behalf, except in accordance with
applicable securities laws.
The Company does not have a feasibility study of mineral
reserves, demonstrating economic and technical viability for the
Santana project, and, as a result, there may be an increased
uncertainty of achieving any particular level of recovery of
minerals or the cost of such recovery, including increased risks
associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and
technical failure.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Minera Alamos Inc.
