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  • Minera Alamos (MAI) has announced a non-brokered private placement for gross proceeds of $4,372,500
  • The company will issue up to 7,950,000 common shares at a price of $0.55 per share
  • Net proceeds will be used to advance the Cerro de Oro gold project in northern Zacatecas State, Mexico
  • The offering is expected to close on or around July 15th 2022
  • Minera Alamos is a gold production and development company
  • Minera Alamos Inc. was down 1.887 per cent, trading at $0.52 at 11:38 AM ET

Minera Alamos (MAI) has announced a non-brokered private placement for gross proceeds of $4,372,500.

The company will issue up to 7,950,000 common shares at a price of $0.55 per share.

Proceeds will be used to advance the Cerro de Oro gold project in northern Zacatecas State, Mexico through permitting and to plan for long-lead time orders of equipment and supplies.

The offering is expected to close on or around July 15th 2022 and is conditional on the approval of the TSX Venture Exchange.

Doug Ramshaw, President and Director of the company has committed to subscribing for 950,000 Shares ($522,500).

“We are happy to have received the support of a long-standing institutional shareholder in the amount of $3.85 million that will allow us to plan and advance the Cerro de Oro gold project in an optimal manner as we drive its progress through permitting without drawing on financial resources committed to the advancement and growth of our Santana gold mine,” stated Doug Ramshaw, President and Director of the company.

No finders fees will be paid in conjunction with the offering.

Minera Alamos is a gold production and development company undergoing the operational startup of its first gold mine that produced its first gold in October 2021.

Minera Alamos Inc. was down 1.887 per cent, trading at $0.52 at 11:38 AM ET.

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