Alamos Gold Inc. today announced that it has entered into an automatic share purchase plan with a broker in order to facilitate repurchases of Alamos’ Class A common shares under its previously announced normal course issuer bid Since December 24, 2021, Alamos has purchased 1.0 million shares in total pursuant to the NCIB at an average price of US$7.415 at a cost of $7.4 million, with all the purchases occurring in May 2022.
During the effective period of the ASPP, Alamos’ broker may purchase Common Shares at times when Alamos would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by Alamos’ broker based upon parameters set by Alamos when it is not in possession of any material non-public information about itself and its securities, and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, Common Shares may continue to be purchased in accordance with Alamos’ discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws.
Alamos previously announced that it had received approval from the Toronto Stock Exchange (“TSX”) to, during the 12-month period commencing December 24, 2021, and terminating December 23, 2022, purchase up to 29,994,398 Common Shares, representing approximately 10% of the Company’s public float of the Common Shares as of December 15, 2021, being 299,943,980 Common Shares (as of December 15, 2021, there were 391,962,704 Common Shares issued and outstanding), by way of an NCIB on the TSX or through alternative trading systems or by such other means as may be permitted under applicable law.News Source: Globe Newswire