Minera Alamos Receives $5,000,000 from Santana Royalty Closing

osisko_royalty_closing_april_3rd_2020_final

Minera Alamos Inc. (“Minera” or the “Company”) (TSXV: MAI) is pleased to report that following shareholder approval of the previously announced Santana project funding package provided by Osisko Gold Royalties (see news release dated December 6th, 2019), the Company has closed the royalty agreement and received gross proceeds of C$5,000,000. In combination with the C$6,000,000 equity placement completed by Osisko in January of this year, the Company, has now received gross proceeds of C$11,000,000 and retains an option to further drawdown an optional royalty facility of up to C$3,000,000 as previously described in the December 6th, 2019 news release referenced above. Overall, the package provided access to C$14,000,000 which exceeded the Company’s current development plans for the Santana operations.

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