ALAMOS GOLD ANNOUNCES INCREASE IN CREDIT FACILITY TO US$400 MILLION
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TORONTO, ONTARIO--(Marketwired - Sept. 21, 2017)
All amounts are in United States dollars, unless otherwise stated. Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) ("Alamos" or the "Company") is
pleased to announce that it has secured amendments to its existing
undrawn revolving credit facility (the "Facility") including an
increase in the size of the Facility from US$150 million to US$400
million on more favourable terms.
Under the amended Facility, the Company will benefit from improved
pricing at its current leverage ratio including undrawn fees of 0.45%
and drawn fees of LIBOR plus 2.00%.
This compares to undrawn fees of 0.48% and drawn fees of LIBOR plus
2.125% under the previous credit facility.
The Facility remains undrawn and the Company debt free with cash and
equity securities of approximately US$150 million as of June 30, 2017.
The maturity date of the Facility has been extended to September 20,
2021. "The amended facility adds significant liquidity on very attractive
Combined with existing cash and expected cash from the recently
announced acquisition of Richmont Mines, Alamos will be debt free with
more than US$600 million of available liquidity.
This greatly improves our financial flexibility as we fund development
of our portfolio of growth projects," said John A. McCluskey, President
and Chief Executive Officer.
The amended Facility was joint-led by the Bank of Nova Scotia, BMO
Capital Markets, and TD Securities. Additionally, the syndicate
includes the Canadian Imperial Bank of Commerce, National Bank of
Canada, HSBC Bank Canada, ING Capital LLC, and Export Development Canada.
The effectiveness of the Facility is subject to satisfying certain
customary closing conditions which have been delayed due to the
earthquake in Mexico and are expected to be completed in the coming
Alamos is a Canadian-based intermediate gold producer with diversified
production from three operating mines in North America.
This includes the Young-Davidson mine in northern Ontario, Canada and
the Mulatos and El Chanate mines in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of development
stage projects in Canada, Mexico, Turkey, and the United States.
Alamos employs more than 1,300 people and is committed to the highest
standards of sustainable development.
The Company's shares are traded on the TSX and NYSE under the symbol
Alamos Gold Inc.
Scott K. Parsons
Vice President, Investor Relations
(416) 368-9932 x 5439 http://www.alamosgold.com http://www.alamosgold.com/news-and-media/news-releases/news-releases-details/2017/Alamos-Gold-Announces-Increase-in-Credit-Facility-to-US400-Million/default.aspx Alamos Gold annonce une acquisition amicale de Mines Richmont - http://ih.advfn.com/p.php?pid=nmona&article=75632471 http://www.alamosgold.com/news-and-media/news-releases/news-releases-details/2017/Alamos-Gold-Announces-Friendly-Acquisition-of-Richmont-Mines/default.aspx GOLD & SILVER UPDATES: Weird Things Are Happening With Gold! -
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Ex. Alamos Gold CORPORATE (AGI) LATEST PRESENTATION -
Aug. 2017 - http://www.alamosgold.com/investors/Presentations/default.aspx http://www.alamosgold.com/news-and-media/news-releases/news-releases-details/2017/Alamos-Reports-Second-Quarter-2017-Results/default.aspx WHY INVEST IN ALAMOS - > http://www.alamosgold.com/investors/why-invest-in-alamos/default.aspx http://www.alamosgold.com https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133639217
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