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Alamos Gold Inc. Announces Closing of $12,325,000 Private Placement |
8/21/2003 |
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., Alamos Gold Inc. has closed the private placement announced August 8, 2003 of 8.5 million units at a price of $1.45 per unit for gross proceeds of $12,325,000. Each unit consists of one common share in the capital of Alamos Gold and one-half of a transferable share purchase warrant. Each full warrant entitles the holder thereof to purchase one additional share of Alamos Gold at a price of $1.75 for a one-year period following closing. The shares, warrants and any shares issuable on exercise of the warrants are subject to a hold period expiring December 22, 2003.
RBC Capital Markets, the Lead Agent, and Haywood Securities Inc., the Co-Agent, have received a commission equal to 7% of the gross proceeds raised from the sale of the units.
Net proceeds from the private placement will be used by Alamos Gold to conduct feasibility work on its Mulatos deposit, to fund further exploration work in the Salamandra District and for general working capital purposes.
Alamos Gold is a precious metals exploration and development company with its Salamandra exploration properties and its Mulatos project, an advanced gold deposit currently in the feasibility phase of development.
ON BEHALF OF THE BOARD
/s/ Chester F. Millar
Chester F. Millar
President and Chairman of the Board
For further information, please contact:
John A. McCluskey
Chief Executive Officer
Tel: 416-925-4880
Fax: 416-925-2264
Email: john.mccluskey@sympatico.ca
Website: www.alamosgold.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The securities described herein and any securities which may be issued thereunder have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statement in this release that are forward-looking, including statements relating to the future recovery of the Mulatos Project, are subject to various risks and uncertainties concerning the specific factors identified about in the Company's periodic filings with the Ontario Securities Commission and the U. S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.
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