By Sheri Kasprzak
New York, July 27 - Alamos Gold Inc. said it has received an unsecured revolving credit facility from Standard Bank plc for $10 million.
The one-year facility may be extended to two years. The credit facility has an interest rate of Libor plus 275 basis points.
Standard Bank will also receive warrants for 350,000 shares, exercisable at C$5.80 each for two years.
The proceeds from the deal will be used for working capital.
Toronto-based Alamos is a gold exploration company.
| Issuer: | Alamos Gold Inc.
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| Issue: | Unsecured revolving credit facility
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| Amount: | $10 million
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| Maturity: | One year
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| Coupon: | Libor plus 275 basis points
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| Warrants: | For 350,000 shares
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| Warrant expiration: | Two years
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| Warrant strike price: | C$5.80
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| Investor: | Standard Bank plc
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| Settlement date: | July 27
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| Stock price: | $3.587 at close July 27
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