Minera Alamos closes $15 million bought deal financing

On September 3, 2020, Minera Alamos Inc. ("Minera Alamos" or the "Company") (TSXV: MAI) announced the closing of its previously announced bought deal private placement, through National Bank Financial, as sole underwriter. Minera Alamos issued an aggregate of 23,810,000 common shares of the Company for aggregate gross proceeds of approximately $15 million, which included the sale of common shares pursuant to the exercise of an option granted to the underwriter.

Minera Alamos intends to use the net proceeds of the offering to advance construction of its 100%-owned Santana gold development project located in Sonora, Mexico, further exploration activities at its other 100% owned development projects located in Mexico, and for general corporate purposes.

Gowling WLG advised Minera Alamos with respect to this financing with a team that included Ian Mitchell, Warren Cass, Josh Rosen and Harrison Sversky.