TORONTO, ONTARIO–(Marketwired – Oct. 21, 2016) – Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) (“Alamos” or the “Company”) today announced the purchase of 25,300,000 common shares (the “Shares”) of Corex Gold Corp. (“Corex”), representing approximately 19.07% of the outstanding common shares of Corex (the “Transaction”). The Shares are being acquired by Alamos by way of private placement at a price of C$0.10 per Share.
Alamos carried out the Transaction for investment purposes and may increase or decrease its investment based on market conditions. Pursuant to an Investor Rights Agreement entered into between Alamos and Corex, Corex has granted Alamos a right to participate in future financings, subject to certain terms, to maintain its pro-rata interest. Corex has also granted Alamos the right to nominate up to two (2) directors to the Corex board of directors. Alamos has elected not to exercise such right at this time but retains the right to do so in the future by giving written notice to Corex.