Minera Alamos closes $135-million bought deal

Executive Summary

• Minera Alamos closed a bought‑deal private placement of 380,282,535 subscription receipts at C$0.355 each, raising approximately US $135 million in gross proceeds.
• The proceeds will fund the upfront cash consideration for the acquisition of Equinox Gold Corp.’s Pan mine, Gold Rock project and Illipah project, expected to close end‑Q3 2025.
• Each receipt automatically converts into one common share plus one warrant (exercise price C$0.705) after satisfaction/waiver of escrow conditions; proceeds are held in escrow pending those conditions.

Key Details

• Offering size & pricing: 380,282,535 subscription receipts issued at C$0.355 per receipt (including full exercise of the underwriters’ overallotment option).
• Gross proceeds: Approximately US $135,000,300 (all amounts in U.S. dollars unless noted).
• Underwriter syndicate: Sole bookrunner – Stifel Canada; participants – BMO Capital Markets, Desjardins Capital Markets, National Bank Financial Inc.
• Conversion mechanics: Each receipt converts to one common share + one warrant (warrant exercisable at C$0.705 per share for 36 months post‑offering).
• Escrow arrangement: Net proceeds (after a 25% underwriter commission and related expenses) deposited with TSX Trust Company; release upon satisfaction/waiver of escrow conditions by 5 p.m. ET on Jan 17 2026 or return to holders if not satisfied.
• Hold period: All securities subject to a hold‑period expiring four months and one day from the issuance date.
• Use of proceeds: To finance the upfront cash consideration for the acquisition of Equinox Gold Corp.’s Pan mine, Gold Rock project, and Illipah project, as announced in the Aug 7 2025 press release; acquisition anticipated to close end‑Q3 2025.
• CEO comment: Darren Koningen highlighted strong investor interest, full exercise of the overallotment option, and the transaction’s role in unlocking value and expanding production over the next few years.

Notable Quotes

“We are extremely pleased with the significant interest from the investment community to the offering… This acquisition offers the potential to unlock significant value in our late‑stage project development pipeline and allows the company to leverage internal cash flow to significantly grow the company's production profile over the next few years.” – Darren Koningen, CEO