TORONTO, September 15, 2015 /PRNewswire/ --
AuRico Metals Inc. (TSX: AMI), ("AuRico" or the
"Company") is pleased to announce the closing of the previously
announced private placement with Alamos Gold Inc. ("Alamos") for
8,000,000 shares at a per share price of C$0.70 for total proceeds of C$5,600,000. Together with the 5,767,855 shares
Alamos already owned in AuRico Metals, Alamos now holds 10.9% of
the issued and outstanding shares of the Company.
About AuRico Metals
AuRico Metals is a mining royalty and development company whose
cornerstone assets include a 1.5% NSR on the Young-Davidson Gold
Mine, located in Ontario, Canada,
a 2% NSR on the Fosterville Mine, located in Victoria, Australia, and 100% ownership of the
advanced Kemess Project in British
Columbia, Canada. On September 8,
2015 the Company announced the acquisition of three
additional royalties, including a royalty on the Williams Mine at
Barrick Gold's Hemlo complex and a
royalty on Wesdome Gold Mines' Eagle
River mine, subject to TSX approval. We believe these
royalties are an excellent fit within our portfolio of high quality
cash flowing royalties located in top tier jurisdictions. AuRico
Metals' goal is to deliver sustained value creation for the
company's many stakeholders. AuRico Metals' head office is located
in Toronto, Ontario, Canada.
Cautionary Statement
This press release contains forward-looking statements and
forward-looking information as defined under Canadian and U.S.
securities laws. All statements, other than statements of
historical fact, are forward-looking statements. The words
"expect", "believe", "anticipate", "will", "intend", "estimate",
"forecast", "budget" and similar expressions identify
forward-looking statements. Forward-looking statements include
information as to strategy, plans or future financial or operating
performance, such as the Company's expansion plans, project
timelines, production plans, projected cash flows or capital
expenditures, cost estimates, projected exploration results,
reserve and resource estimates and other statements that express
management's expectations or estimates of future performance.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
statements, including: uncertainty of production and cost
estimates; fluctuations in the price of gold and foreign exchange
rates; the uncertainty of replacing depleted reserves and the
possible recalculation or reduction of reserves and resources; the
risk that the Young-Davidson shaft will not perform as planned;
the risk that mining operations do not meet expectations; the risk
that projects will not be developed according to budgets or
timelines, changes in laws in Canada, Australia and other jurisdictions in which the
Company may carry on business; risks of obtaining necessary
licenses, permits or approvals for operations or projects such as
Kemess; disputes over title to properties; the speculative nature
of mineral exploration and development; compliance risks with
respect to current and future environmental regulations;
disruptions affecting operations; opportunities that may be pursued
by the Company; employee relations; availability and costs of
mining inputs and labor; the ability to secure capital to execute
business plans; volatility of the Company's share price; the effect
of future financings; litigation; risk of loss due to sabotage and
civil disturbances; the values of assets and liabilities based on
projected future cash flows; risks arising from derivative
instruments or the absence of hedging; adequacy of internal control
over financial reporting; changes in credit rating; and the impact
of inflation. Actual results and developments are likely to differ,
and may differ materially, from those expressed or implied by the
forward-looking statements contained herein. Such statements are
based on a number of assumptions which may prove to be incorrect,
including assumptions about: business and economic conditions;
commodity prices and the price of key inputs such as labour, fuel
and electricity; credit market conditions and conditions in
financial markets generally; revenue and cash flow estimates,
production levels, development schedules and the associated costs;
ability to procure equipment and supplies and ability to do so on a
timely basis; the timing of the receipt of permits and other
approvals for projects and operations; the ability to attract and
retain skilled employees and contractors for the operations; the
accuracy of reserve and resource estimates; the impact of changes
in currency exchange rates on costs and results; interest rates;
taxation; and ongoing relations with employees and business
partners. The Company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
Chris Richter, President and
Chief Executive Officer, AuRico Metals Inc., +1-416-216-2780,
chris.richter@auricometals.ca; Rob
Chausse, Chief Financial Officer, AuRico Metals Inc.,
+1-416-216-2780, robert.chausse@auricometals.ca