Alamos Gold Announces Renewal of Normal Course Issuer Bid
18 Diciembre 2020 - 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 35,145,504 Class A Common Shares
(“Common Shares”), representing 10% of the Company’s public float
of the Common Shares as of December 14, 2020, being 351,455,040
Common Shares. As at December 14, 2020, there were 392,727,670
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, 2020
and ending December 23, 2021. 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 273,548 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 price of its Common Shares
from time to time to be not reflective of the underlying value of
the Company. The Company believes it is 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, 2019 and will
terminate on December 23, 2020, Alamos sought the purchase of up to
28,734,677 Common Shares and has purchased and cancelled 1,133,561
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$6.99.
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.
Parsons |
|
Vice 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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