Minera Alamos Appoints Darren Blasutti Executive Vice President, Corporate Development

Executive Summary

• Minera Alamos appoints Darren Blasutti as Executive Vice President, Corporate Development.
• Announces a $3.5 M private placement (units at $0.40) and a debt settlement of USD 3.6175 M via issuance of 12,617,718 common shares at $0.40 per share.
• Grants 7,025,824 restricted share units to officers and directors under its Omnibus Incentive Plan.

Key Details

• Executive Appointment: Darren Blasutti joins as EVP, Corporate Development; brings >25 years mining finance experience, former SVP at Barrick Gold.
• Board Resignation: Doug Ramshaw resigns from the Board and as President after 7.5 years of service.
• Private Placement:
• Total offering size: CAD 3,500,000.
• Unit price: $0.40 per unit.
• Each unit includes one common share plus a warrant to purchase an additional share at $0.705 for 36 months.
• Minimum hold period: four months and one day after issuance.
• Darren Blasutti subscribes for CAD 1,000,000 of the placement.
• Proceeds earmarked for general working capital.
• Debt Settlement:
• Agreement with an arms‑length creditor to settle USD 3,617,500 debt.
• Settlement via issuance of 12,617,718 common shares at $0.40 per share (subject to TSX Venture Exchange approval).
• Debt composition: USD 800,000 from Advisory Services Agreement (Jan 1 2025) and USD 2,817,500 for outstanding obligations related to a call option for 1,860 oz gold (Oct 27 2023).
• Minimum hold period identical to private placement.
• Equity Incentive Grants:
• 7,025,824 restricted share units granted to officers and directors under the Omnibus Incentive Plan.
• Vesting: one year from grant date; settlement can be in cash or common shares at holder’s option.

Notable Quotes

“Mr. Blasutti is joining Minera Alamos at a pivotal time as the Company navigates from being a development company to gold producer, given the recent acquisition of the Pan Gold Mine in Nevada,” – Darren Koningen, CEO.