Alamos Gold Announces Renewal of Normal Course Issuer Bid
21 December 2023 - 10:55PM
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”) of, a Notice of
Intention to make a Normal Course Issuer Bid permitting Alamos to
purchase for cancellation up to 34,485,405 Class A Common Shares
(“Common Shares”), representing 10% of the Company’s public float
of the Common Shares as at December 14, 2023, being 344,854,056
Common Shares. As at December 14, 2023, there were 396,857,869
Common Shares issued and outstanding.
Alamos may purchase Common Shares under the Normal Course Issuer
Bid over the twelve-month period beginning December 24, 2023 and
ending December 23, 2024. 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 pursuant to block
purchase exceptions, is 151,045 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, 2022 and will
terminate on December 23, 2023, Alamos sought the purchase of up to
34,670,378 Common Shares and no purchases were made.
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 strong portfolio of growth
projects, including the Phase 3+ Expansion at Island Gold, and the
Lynn Lake project in Manitoba, Canada. Alamos employs more than
1,900 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. ParsonsSenior Vice President, Investor
Relations(416) 368-9932 x 5439
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.sedarplus.ca 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.
Alamos Gold (NYSE:AGI)
Historical Stock Chart
From May 2024 to Jun 2024
Alamos Gold (NYSE:AGI)
Historical Stock Chart
From Jun 2023 to Jun 2024