Alamos consolidates ownership of Lynn Lake Project with acquisition of Carlisle Goldfields
On January 7, 2016, Alamos Gold Inc. (Alamos) reported the completion of the previously announced acquisition of all of the issued and outstanding common shares of Carlisle Goldfields Limited (Carlisle) by way of a court-approved plan of arrangement, for a total consideration of approximately US$22.1 million (C$28.5 million).
Under the terms of the agreement, Carlisle shareholders received: (i) 0.0942 of an Alamos common share for each Carlisle common share held, plus (ii) 0.0942 of a warrant to purchase Alamos common shares at an exercise price of C$10.00 with an expiration date of three years from closing. At the special meeting of shareholders held on December 16, 2015, Carlisle shareholders were overwhelmingly supportive of the acquisition, with 98.21% of the votes cast in favour. A Final Order was granted by the Ontario Superior Court of Justice (Commercial List) on December 21, 2015 approving the plan of arrangement pursuant to which the acquisition was implemented.
Carlisle is a gold exploration and development company focused on a definitive feasibility study evaluation of the Lynn Lake Gold Camp in Lynn Lake, Manitoba, Canada.
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America.
Further information can be found on Alamos' website.