Company to sell 8 million shares at C$0.70 apiece to Alamos Gold
By Tali Rackner
Norfolk, Va., Aug. 31 – AuRico Metals Inc. announced a private placement of 8 million shares to Alamos Gold Inc., according to a press release.
The shares will be issued at C$0.70 per share for total proceeds of C$5.6 million.
The price per share is a 5.41% discount to the company’s C$0.74 (TSX: AMI) closing share price on Aug. 28.
Together with the 5,767,855 shares Alamos already owns in AuRico Metals, Alamos now controls 10.9% of the issued and outstanding shares of the company.
AuRico Metals is Toronto-based mining royalty and development company.
| Issuer: | AuRico Metals Inc.
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| Issue: | Common shares
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| Amount: | C$5.6 million
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| Shares: | 8 million
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| Price: | C$0.70
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| Agent: | Alamos Gold Inc.
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| Announcement date: | Aug. 31
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| Stock symbol: | TSX: AMI
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| Stock price: | C$0.74 at close Aug. 28
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| Market capitalization: | C$83.87 million
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