Alamos Gold acquisition of Qiqavik Gold Project

On January 15, 2024, Alamos Gold Inc. (“Alamos”) announced that it entered into a definitive agreement in which it would acquire all of the issued and outstanding shares of Orford Mining Corporation (“Orford”) by way of a court-approved plan of arrangement.

Closing of the transaction was announced on April 3, 2024. Under the terms of the arrangement, Orford shareholders received 0.005588 of an Alamos common share for each Orford share held, representing a value of C$0.10 per Orford share.

Prior to closing, Alamos owned 61,660,902 Orford shares, representing approximately 27.5% of Orford’s outstanding basic common shares. Excluding Alamos’ existing ownership of Orford, Alamos issued approximately 0.9 million shares for total consideration of C$16 million.

The acquisition consolidates Alamos’ existing ownership of Orford shares through which it will add the highly prospective Qiqavik Gold Project, a camp scale property covering 438 square km in the Cape Smith Belt in Nunavik, Québec.

In addition to Qiqavik, Alamos also acquired interests in several exploration stage critical mineral and gold projects in Québec, including West Raglan, the Joutel Properties and Nunavik Lithium.

Further information can be found on Globe Newswire’s website and on alamosgold.com.

Orford Mining is a gold and critical mineral explorer focused on highly prospective and underexplored areas of Northern Québec.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America.