Alamos Gold Enters into Automatic Share Purchase Plan and Announces Share Repurchases Under Normal Course Issuer Bid
May 19 2022 - 6:55AM
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or
the “Company”) today announced that it has entered into an
automatic share purchase plan (“ASPP”) with a broker in order to
facilitate repurchases of Alamos’ Class A common shares (“Common
Shares”) under its previously announced normal course issuer bid
(“NCIB”). Since December 24, 2021, Alamos has purchased 1.0 million
shares in total pursuant to the NCIB at an average price of
US$7.415 at a cost of $7.4 million, with all the purchases
occurring in May 2022.
During the effective period
of the ASPP, Alamos’ broker may purchase Common
Shares at times when Alamos would not be active in the
market due to insider trading rules and its own internal trading
blackout periods. Purchases will be made
by Alamos’ broker based upon parameters set
by Alamos when it is not in possession of any material
non-public information about itself and its securities, and in
accordance with the terms of the ASPP. Outside of the effective
period of the ASPP, Common Shares may continue to be purchased in
accordance with Alamos’ discretion, subject to applicable
law. The ASPP has been entered into in accordance with the
requirements of applicable Canadian securities laws.
Alamos previously announced that it had received approval
from the Toronto Stock Exchange ("TSX") to, during the 12-month
period commencing December 24, 2021 and
terminating December 23, 2022, purchase up to 29,994,398
Common Shares, representing approximately 10% of the Company’s
public float of the Common Shares as of December 15, 2021, being
299,943,980 Common Shares (as of December 15, 2021, there were
391,962,704 Common Shares issued and outstanding), by way of a NCIB
on the TSX or through alternative trading systems or by such other
means as may be permitted under applicable law.About
AlamosAlamos 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
including ASPP, 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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