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Argonaut Gold Inc., a wholly owned subsidiary of Alamos Gold Inc., announced today that more than 90% of its outstanding 4.625% senior unsecured convertible debentures (each, a ‘Debenture’) were tendered to the offer to purchase the Debentures launched by the Company on July 24, 2024 (the ‘Debenture Offer’), in connection with the acquisition of all of the issued and outstanding common shares of the Company by Alamos Gold Inc.
The Company is providing notice pursuant to its convertible debenture indenture dated October 30, 2020, as supplemented by a supplemental convertible debenture indenture dated July 12, 2024 (collectively, the ‘Indenture’), that it will redeem all outstanding Debentures that were not tendered to the Debentures Offer (the ‘Untendered Debentures’).
In accordance with the Indenture, the Untendered Debentures will be redeemed for a redemption price equal to 100% of the principal amount of the Untendered Debentures, together with accrued and unpaid interest thereon up to, but excluding, September 3, 2024. The redemption of the Untendered Debentures is expected to occur on or about September 6, 2024. The total value of all the Debentures to be purchased or redeemed, including accrued interest, is expected to be US$58.2 million. The Debentures are expected to be delisted from the Toronto Stock Exchange (the ‘TSX’) at the close of markets on September 3, 2024.
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