Alamos Gold Announces Renewal of Normal Course Issuer Bid
18 Diciembre 2019 - 5:55AM
Alamos Gold Inc. (
TSX:AGI;
NYSE:AGI) (“Alamos” or the “Company”) today announced that
it has filed with and received acceptance from the Toronto Stock
Exchange (“TSX”), for a Notice of Intention to make a Normal Course
Issuer Bid permitting Alamos to purchase for cancellation up to
28,734,677 Class A Common Shares (“Common Shares”), representing
10% of the Company’s public float of the Common Shares as of
December 11, 2019, being 287,346,778 Common Shares. As at December
11, 2019, there were 391,070,817 Common Shares issued and
outstanding.
Alamos may purchase Common Shares under the
Normal Course Issuer Bid over the next twelve-month period
beginning December 24, 2019 and ending December 23, 2020. Any
purchases made under the Normal Course Issuer Bid will be effected
through the facilities of the TSX, alternative Canadian trading
systems and/or the New York Stock Exchange. The maximum number of
Common Shares that Alamos may purchase on the TSX on a daily basis,
other than block purchase exceptions, is 207,892 Common Shares.
The price for any repurchased Common Shares will
be the prevailing market price at the time of the purchase. All
Common Shares purchased by Alamos will be cancelled. Purchase and
payment for the Common Shares will be made by Alamos in accordance
with the requirements of the TSX and applicable securities
laws.
A Normal Course Issuer Bid is being undertaken
as the Company and its Board of Directors believe the share price
of its Common Shares from time to time to be not reflective of the
underlying value of the Company. The Company believes it
advantageous to its shareholders to engage in repurchases of Common
Shares, from time to time, when they are trading at prices which
reflect a discount from their value by increasing the proportionate
share of ownership of the Company to remaining shareholders. Under
its previous Normal Course Issuer Bid which commenced on December
24, 2018 and will terminate on December 23, 2019, Alamos sought the
purchase of up to 25,513,043 Common Shares and has purchased and
cancelled 2,748,352 Common Shares of the Company through open
market purchases through the facilities of the TSX and the New York
Stock Exchange at a weighted average price paid per Common Share of
C$5.53.
About Alamos
Alamos is a Canadian-based intermediate gold producer with
diversified production from three operating mines in North America.
This includes the Young-Davidson and Island Gold mines in northern
Ontario, Canada and the Mulatos mine in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of
development stage projects in Canada, Mexico, Turkey, and the
United States. Alamos employs more than 1,700 people and is
committed to the highest standards of sustainable development. The
Company’s shares are traded on the TSX and NYSE under the symbol
“AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. ParsonsVice President, Investor
Relations (416) 368-9932 x 5439
All amounts are in United States dollars, unless otherwise
stated.
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.
Cautionary Note
This news release includes certain statements
that constitute forward-looking information within the meaning of
applicable securities laws ("Forward-looking Statements"). All
statements in this news release, including statements regarding
potential future purchases by Alamos of its Common Shares pursuant
to the NCIB, other than statements of historical fact, which
address events, results, outcomes or developments that Alamos
expects to occur are Forward-looking Statements. Forward-looking
Statements are generally, but not always, identified by the use of
forward-looking terminology such as "expects", is “expected",
"anticipates", "plans" or “is planned”, “trends”, "estimates",
"intends" or “potential” or variations of such words and phrases
and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved or the negative connotation of such
terms.
Alamos cautions readers not to place undue
reliance on the forward-looking statements in the information and
content on this news release as a number of factors could cause
actual future results, conditions, actions or events to differ
materially from the targets, outlooks, expectations, goals,
estimates or intentions expressed in the Forward-looking
Statements. These factors include, but are not limited to: changes
in the financial markets, changes in applicable laws and
governmental regulations, fluctuations the price of gold,
fluctuations in relative currency values, risks related to
obtaining and maintaining necessary permits and the
unpredictability of and fluctuation in the trading price of the
Company’s common shares,
Additional risk factors and details with respect
to risk factors affecting the Company are set out in the Company’s
latest Annual Information Form and MD&A, each under the heading
“Risk Factors”, available on the SEDAR website at www.sedar.com or
on EDGAR at www.sec.gov. The foregoing should be reviewed in
conjunction with the information found in this news release.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether written or oral, or
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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