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Alamos Gold Inc. (AGI.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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10.50+0.10 (+0.96%)
At close: 4:00PM EDT
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Previous Close10.40
Bid10.49 x 0
Ask10.50 x 0
Day's Range10.15 - 10.53
52 Week Range8.36 - 15.52
Avg. Volume795,130
Market Cap4.124B
Beta (5Y Monthly)1.18
PE Ratio (TTM)22.68
EPS (TTM)0.46
Earnings DateApr. 28, 2021
Forward Dividend & Yield0.13 (1.20%)
Ex-Dividend DateMar. 16, 2021
1y Target Est12.50
  • Alamos Gold Announces Additional Investment in Manitou Gold Inc.

    Alamos Gold Announces Additional Investment in Manitou Gold Inc.

    TORONTO, April 09, 2021 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced the purchase of 15,900,000 common shares (the “Shares") of Manitou Gold Inc. ("Manitou"), representing approximately 2.5% of the outstanding common shares of Manitou (the “Transaction”), on a partially diluted basis. The Shares are being acquired by Alamos by way of share purchase agreement with a third party at a price of C$0.08 per Share. Prior to the closing of the Transaction, the Company had beneficial ownership of, or control and direction over 42,311,077 common shares and 4,520,000 warrants of Manitou, or 17.44% of its issued and outstanding common shares on a partially diluted basis (assuming exercise of the warrants). Assuming exercise of the warrants, the Company will have the beneficial ownership of, or control and direction over 62,731,077 common shares or 19.96% of the issued and outstanding shares of Manitou, on a partially diluted basis, calculated as of the date of the Transaction. The Company does not own any other securities of Manitou. Alamos carried out the Transaction for investment purposes and may increase or decrease its investment based on market conditions. Alamos and Manitou entered into an Investor Rights Agreement on December 24, 2019, which provides Alamos with (i) the right to nominate one director to Manitou’s board of directors, (ii) non-dilution rights, such that Alamos can retain its pro-rata ownership in Manitou by participating in any subsequent share issuance, so long as Alamos retains at least 10% ownership of Manitou’s common shares outstanding on a partially diluted basis, and (iii) the right to participate in a joint Exploration Committee which has been established to discuss and advise on exploration strategy for Manitou’s Goudreau Project. On June 30, 2020, Peter MacPhail, Chief Operating Officer of Alamos was elected as a Director of Manitou. The Early Warning Report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on Manitou’s SEDAR profile at The Transaction remains subject to customary approvals, including the Toronto Stock Exchange. About Alamos Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”. FOR FURTHER INFORMATION (INCLUDING TO OBTAIN A COPY OF THE EARLY WARNING REPORT REFERENCED HEREIN) PLEASE CONTACT: Scott K. Parsons Vice President, Investor Relations (416) 368-9932 x 5439 Cautionary Note All amounts are in United States dollars, unless otherwise stated. The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. These forward-looking statements are based on forecasts and reasonable assumptions of management. Readers are asked to review the "Risk Factors" set out in Alamos Gold Inc.'s Annual Information Forms and other filings available on SEDAR and EDGAR. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

  • Manitou Gold Announces Closing of $5,031,000 Private Placement, Strategic Investments by Alamos Gold and O3 Mining

    Manitou Gold Announces Closing of $5,031,000 Private Placement, Strategic Investments by Alamos Gold and O3 Mining

    SUDBURY, Ontario, April 09, 2021 (GLOBE NEWSWIRE) -- Manitou Gold Inc. (TSXV: MTU) (the “Company” or “Manitou”) is pleased to announce that it has closed its previously announced private placement (the “Offering”) pursuant to which it has issued an aggregate of 45,740,909 “flow-through” common shares (“FT Shares”) at a price of $0.11 per FT Share to raise aggregate gross proceeds of $5,031,500. The Company also issued an aggregate of 1,381,864 broker warrants to certain eligible registrants assisting in the Offering, each entitling the holder to acquire one common share of the Company at a purchase price of $0.11 per share for a period of three years from the closing of the Offering. An amount equal to the gross proceeds from the sale of the FT Shares will be used for expenditures which qualify as Canadian exploration expenses (“CEE”) and “flow-through mining expenditures” (within the meaning of the Income Tax Act (Canada)). The Company will renounce such CEE with an effective date of no later than December 31, 2021. In connection with the Offering, Alamos Gold Inc. (TSX: AGI, NYSE: AGI) purchased an aggregate of 15,900,000 FT Shares from a third party to maintain its 19.9% interest in the Company (calculated on a partially diluted basis). In addition, O3 Mining Inc. (TSX-V: OIII) participated in the Offering, as a result of which, it owns a 9.9% interest in the Company (calculated on a partially diluted basis). Officers and directors of Manitou also purchased an aggregate of 3,750,000 FT Shares in the Offering. Accordingly, the Offering is a “related party transaction” under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as the Company is listed on the TSXV and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). The Company will file a material change report in respect of the Offering. However, it will be filed less than 21 days in advance of this closing, which is consistent with market practice and the Company deems reasonable in the circumstances given that no conditions to closing remain unsatisfied that would have required the closing to have been delayed for such period. The Offering remains subject to the final approval of the TSX Venture Exchange. All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on August 10, 2021. For further information on Manitou Gold Inc., contact: Richard Murphy, CEO Telephone: 1 (705) 698-1962 Email: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including regulatory risk related to the receipt of final approval of the TSX Venture Exchange for the Offering. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including with respect to the receipt of all regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

  • New Strong Sell Stocks for April 9th

    New Strong Sell Stocks for April 9th

    AEM, AGI, EGO, and WELL have been added to the Zacks Rank #5 (Strong Sell) List on April 9, 2021