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Alamos Gold becomes a strategic investor in Orford Mining

Mining News - Published on Tue, 21 May 2019

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Orford Mining Corporation announced that, further to its news release dated May 9, 2019, it has closed a non-brokered private placement of (i) 11,764,706 flow-through common shares at an issue price of CAD 0.17 per share, and (ii) 3,000,000 hard dollar common shares at an issue price of CAD 0.10 per share. Orford understands that Alamos Gold Inc now owns a total of 14,764,706 common shares of Orford, or 19.3% of its issued and outstanding common shares.

Following completion of this private placement, and the issuance described below, there will be 76,333,460 issued and outstanding common shares of Orford. Two Alamos nominees will serve on a newly-created Orford exploration advisory committee, which will help guide future programs along the high-grade Qiqavik gold trend and elsewhere.

Mr David Christie, President and CEO of Orford commented, "I look forward to working with Alamos as a partner and key Orford shareholder. We will benefit greatly from the expertise and experience of the Alamos representatives on our new exploration advisory committee as we advance the exploration program at Qiqavik – a greenfield gold discovery where high grade gold surface showings have been discovered in multiple locations across 45 kilometres."

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Posted By : Rabi Wangkhem on Tue, 21 May 2019
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