Two gold mines in the Dubreuilville area will soon be operating under the same flag.
In what’s being described as a “friendly acquisition,” Alamos Gold is consolidating mining operations on the Michipicoten Green Belt by picking up Argonaut Gold and its Magino Mine.
The two Toronto companies have entered into a definitive agreement whereby Alamos will acquire all of the issued and outstanding shares of Argonaut. The transaction is expected to close in July.
Under the agreement, each Argonaut common shares outstanding will be exchanged for 0.0185 Alamos common shares and one share of a new spinoff company of Argonaut’s remaining mining assets in the U.S. and Mexico.
The all-share transaction is valued at US$325 million.
[More]
