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Alamos Gold Inc Announces Acquisition of Esperanza Resources Corp


Friday, 12 Jul 2013 09:00am EDT 

Alamos Gold Inc and Esperanza Resources Corp announced that they have entered into a definitive agreement (the Agreement) pursuant to which Alamos has agreed to acquire all of the issued and outstanding common shares of Esperanza by way of a court-approved plan of arrangement (the Arrangement). Esperanza is a precious metals exploration and development company focused on advancing its principal property, the wholly-owned Esperanza gold project (formerly referred to as the Cerro Jumil gold project) in Morelos State, Mexico. Pursuant to the terms of the Agreement, Esperanza shareholders will receive CAD0.85 in cash for each common share of Esperanza held, representing a premium of approximately 38% to Esperanza's 30-day volume-weighted average price (VWAP) for the period ending July 11, 2013. The transaction values Esperanza's equity at approximately CAD69.4 million on a fully diluted in-the-money basis. In addition, Esperanza shareholders will be issued approximately five million Alamos warrants in aggregate and existing Esperanza warrant holders will be issued approximately two million Alamos warrants in aggregate. The warrants will be listed for trading on the Toronto Stock Exchange. 

Company Quote

8.66
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25 Nov 2014