Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) announced the exercise of 5,299,525 common share purchase warrants with an exercise price of CDN$0.50 per common share of Red Pine Exploration Inc. in exchange for 5,299,525 common shares, representing approximately 4.83% of the outstanding common shares of Red Pine.
Immediately prior to the Exercise, Alamos had beneficial ownership of, or control and direction over, 17,414,858 common shares and 5,299,525 Warrants of Red Pine. Assuming exercise of the 5,299,525 Warrants, Alamos had beneficial ownership of, or control and direction over 22,714,383 common shares or 19.75% of the issued and outstanding shares of Red Pine on a partially diluted basis.
As a result of the Exercise, Alamos will own 22,714,383 common shares or 19.75% of the issued and outstanding shares of Red Pine on a partially diluted basis and no Warrants.
Alamos has acquired the Red Pine common shares for investment purposes, which will be evaluated and increased or decreased from time to time at Alamos’ discretion. The Early Warning Report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on Red Pine’s SEDAR profile at www.sedar.com. The Exercise remains subject to customary approvals, including the Toronto Stock Exchange.
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.
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We acknowledge the [financial] support of the Government of Canada.