Minera Alamos Announces Closing of $4.37 Million Non-Brokered Private Placement
Minera Alamos Announces Closing of $4.37
Million Non-Brokered Private Placement
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - July 18, 2022) -
Minera Alamos
Inc.
(TSXV: MAI)
(the "Company" or "Minera Alamos")
is pleased to announce that, further to its
press release dated June 23, 2022, it has closed its non-brokered private placement offering of
7,950,000 common shares of the Company (the "
Common Shares
") at a price of $0.55 per Common
Share for aggregate gross proceeds to the Company of $4,372,500 (the "
Offering
"). No finders fees
were paid.
Minera Alamos intends to use the net proceeds of the Offering to advance the Cerro de Oro gold project
in a timely manner through permitting and to logistically plan for long-lead time orders of equipment and
supplies that will be used in its construction as well as for general corporate purposes.
All securities issued under the Offering are subject to a hold period of four months and one day from the
closing date under applicable Canadian securities laws, in addition to such other restrictions as may
apply under applicable securities laws of jurisdictions outside Canada. The Offering is subject to final
acceptance of the TSX Venture Exchange ("
TSXV
").
Doug Ramshaw, President and Director of Minera Alamos, subscribed for 950,000 Common Shares for
gross proceeds of $522,500. As a result, the Offering is considered a "related party transaction"
pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("
MI 61-101
"). Minera Alamos relied on Sections 5.5(b) and 5.7(1)(a) of MI 61-101 for
exemptions from the requirements to obtain a formal valuation and minority shareholder approval,
respectively, because the Common Shares trade on the TSXV and the fair market value of insider's
participation in the Offering was below 25% of the Company's market capitalization for purposes of MI
61-101.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy securities in the United States, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
About Minera Alamos
Minera Alamos is a gold production and development Company undergoing the operational startup of its
first gold mine that produced its first gold in October 2021. 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 its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in
northern Zacatecas that has considerable past drilling and metallurgical work completed and could enter
the permitting process rapidly. The La Fortuna open pit gold project in Durango (100%-owned) has an
extremely robust and positive preliminary economic assessment (PEA) completed and the main Federal
permits in hand. Minera Alamos is built around its operating team that together brought 3 mines into
successful production in Mexico over the last 13 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources
and continuing to pursue complementary strategic acquisitions.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email:
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email:
Website:
www.mineraalamos.com
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that
forward-looking information is based on certain assumptions and risk factors that could cause actual
results to differ materially from the expectations of Minera Alamos included in this news release. This
news release includes certain "forward-looking statements", which often, but not always, can be
identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". These statements are based on information currently available to Minera
Alamos and Minera Alamos provides no assurance that actual results will meet management's
expectations. Forward-looking statements include estimates and statements with respect to the use of
proceeds from the Offering and Minera Alamos' future plans, objectives or goals, to the effect that Minera
Alamos or management expects a stated condition or result to occur and the expected timing. Since
forward-looking statements are based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties. Such statements reflect the Company's
current views with respect to future events based on certain material factors and assumptions and are
subject to certain risks and uncertainties, including without limitation, changes in market, competition,
governmental or regulatory developments, general economic conditions and other factors set out in the
Company's public disclosure documents. Many factors could cause the Company's actual results,
performance or achievements to vary from those described in this news release, including without
limitation those listed above. This list is not exhaustive of the factors that may affect any of Minera
Alamos' forward-looking statements. These and other factors should be considered carefully and
readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos
does not undertake to update any forward-looking statement that may be made from time to time by
Minera Alamos or on its behalf, except in accordance with applicable securities laws.
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/131102