Minera Alamos Inc. Announces Closing of Guadelupe Option Assignment and Acquisition of Common Shares of Prime Mining Corp.
Minera Alamos Inc. Announces Closing of Guadelupe
Option Assignment and Acquisition of Common Shares
of Prime Mining Corp.
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - August 30, 2019) - Minera Alamos Inc.
(TSXV: MAI)
(the
"
Corporation
") announces that it has acquired 9,450,000 common shares in the capital of Prime Mining Corp. ("
Prime
") at a
deemed price of $0.30 per common share as consideration for the assignment of an option agreement to which the Corporation
is a party (the "
Transaction
") see news releases dated April 24
th
2019 and June 26
th
2019.
Prior to the Transaction, the Corporation did not own any common shares of Prime. Following the Transaction, the Corporation
owned or controlled 9,450,000 common shares of Prime representing approximately 16.1% of the outstanding common shares
of Prime. As part of the Transaction, the Corporation acquired warrants to purchase up to 3,350,000 additional common shares
of Prime at a price of $0.50 per common share (the "
Prime Warrants
"). The securities issued pursuant to the Transaction will
be subject to a statutory hold period in Canada expiring four months and one day from the closing date, being December 28
th
,
2019.
The Corporation does not presently intend to make further investments or divestitures in Prime. However, the Corporation may in
the future take such actions in respect of its holdings in Prime as it may deem appropriate based on its assessment of market
conditions and any other conditions it considers relevant at the time, including the exercise of the Prime Warrants, the purchase
of additional Common Shares through open market or privately negotiated transactions or the sale of all or a portion of its
holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable
securities laws.
A copy of the early warning report in respect of the Corporation's acquisition will be filed with the applicable securities
commissions and can be found on Prime's profile at
www.sedar.com
.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email:
Website:
www.mineraalamos.com
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and the Corporation 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 the Corporation 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 the Corporation and
the Corporation provides no assurance that actual results will meet management's expectations. Since forward-looking
statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, closing of the Transaction could differ materially from those
currently anticipated in such statements. These and other factors should be considered carefully and readers should not place
undue reliance on the Corporation's forward-looking statements. The Corporation does not undertake to update any forward-
looking statement that may be made from time to time by the Corporation 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 RESPONSIBILITYFOR THE ADEQUACYOR ACCURACY
OF THIS RELEASE.
About Minera Alamos:
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 permits granted)
and the Santana open-pit heap-leach development project in Sonora (permits received).
The Company's strategy is to develop low capex, high margin assets with expansion opportunities while continuing to pursue
complementary strategic acquisitions.
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 Minera Alamos' future plans with respect to the Projects, objectives or goals, to
the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release
of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they 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 such statements for many
reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such
statements 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 news 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
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/47412