TORONTO, April 20, 2015 /PRNewswire/ - AuRico Gold Inc.
(TSX: AUQ) (NYSE: AUQ),("AuRico" or the "Company") today
announced the closing of its previously announced non-brokered
private placement pursuant to which Alamos Gold Inc. subscribed for
approximately 27.9 million common shares of AuRico, representing
approximately 9.9% of AuRico's outstanding common shares after
giving effect to the private placement. The common shares were
acquired at a price of US$2.99 per
share, equal to AuRico's closing price on the New York Stock
Exchange on April 10, 2015, for total
gross proceeds to AuRico of approximately US$83.3 million.
The net proceeds from the private placement will be used by the
Company for the advancement of its exploration and development
projects and for general working capital.
The common shares issued pursuant to the private placement are
subject to the Canadian resale rules which include a four-month
restricted period before the common shares may become
freely-tradeable within Canada.
About AuRico
Gold
AuRico Gold is a
leading Canadian gold producer with mines and projects in
North America that have
significant production growth and exploration potential. The
Company is focused on its core operations including the cornerstone
Young-Davidson gold mine in northern Ontario, and the El Chanate mine in Sonora
State, Mexico. AuRico's project
pipeline also includes the advanced development Kemess Underground
Project in northern British
Columbia and the Lynn Lake Gold Camp in northern
Manitoba. The Company also has
other exploration opportunities in Canada and Mexico. AuRico's head office is located in
Toronto, Ontario, Canada.
SOURCE AuRico Gold Inc.