Alamos Gold Announces Closing of the Sale of its Turkish Development Projects

Executive Summary

• Alamos Gold Inc. completed the sale of its wholly‑owned Turkish subsidiary (Dogu Biga Madencilik Sanayi ve Tic. A.S.) to Tümad Madencilik Sanayi ve Ticaret A.S. for a total cash consideration of $470 million.
• At closing Alamos received an initial $160 million cash payment; additional anniversary payments of $160 million (one‑year) and $150 million (two‑year) are secured by bank guarantees.
• The transaction divests the Kirazli, Agi Dagi and Çamyurt projects in northwestern Türkiye, providing immediate liquidity and future cash flow under guaranteed terms.

Key Details

• Total Transaction Value: $470 million cash.
• Closing Cash Received: $160 million paid to Alamos at closing.
• Anniversary Payments:
• Year‑1: $160 million payable on the one‑year anniversary of closing.
• Year‑2: $150 million payable on the two‑year anniversary of closing.
• Security for Future Payments: Bank guarantees from internationally rated financial institutions received at closing.
• Assets Sold: Ownership of Kirazli, Agi Dagi and Çamyurt gold projects located in northwestern Türkiye.
• Buyer: Tümad Madencilik Sanayi ve Ticaret A.S., a Turkish mining company.
• Seller Entities: Alamos Gold Holdings Coöperatief U.A. and Alamos Gold Holdings B.V., wholly‑owned Netherlands subsidiaries of Alamos Gold Inc.

Notable Quotes

(No direct quotes were provided in the release.)