Corex Gold and Minera Alamos Join Forces to Build Major Latin American Gold Company
Momentum Public Relations
Press Release: April 9, 2018
MomentumPR’s client, Corex Gold, is listed on the TSX Venture exchange under the symbol: CGE. Following the transaction closing the Company will trade under the ticker symbol: MAI.
Momentum PR is pleased to have produced an informative and comprehensive report on Corex Gold, available here – Corex Gold Corporation Report.
Corex Gold Merger Highlights
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Corex merges with Minera Alamos to form Latin American Gold Rollup Company
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Merged company backed by Osisko Gold Royalties
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Gold Production targeted at 150,000 ounces annually within three-four years
Corex Gold, (TSXV: CGE) (OTCQB: CGEKF) is about to merge with Minera Alamos, (TSXV: MAI). Together the two companies will have a market cap in the C$45 million range and three gold properties under development.
Corex’s flagship project, Santana, will be the first out of the gate and into commercial production with an estimated 25,000 to 35,000 ounces of gold annually. Revenues generated from Santana will be used to put two Minera Alamos properties, La Fortuna and Guadelupe dos Reyes into production.
The merged company will have an important advantage in that it is being backed by Osisko Gold Royalties Ltd, (TSX: OR). On May 30, 2017 Osisko bought 19.9% of Minera Alamos as part of a royalty stream agreement.
On February 16, 2018, Osisko issued an early warning announcement that it had bought the 16.12% of Corex shares previously held by Minera Alamos. As a result, Osisko will hold between 17-18% of the merged company.
Corex CEO Doug Ramshaw, “Osisko is known to be one of the more preeminent and aggressive royalty companies. If you are going to build a portfolio of development projects that you want to put into production having a partner that will assist in your funding through royalties is not a bad thing.”
Corporate strategy going forward is to put the three wholly owned assets, Santana, Fortuna and Guadelupe into production. Then they will find opportunities to leverage their technical expertise and corporate backing to acquire and put in production low-cost heap leachable projects that are too small, from a production point for the big companies to be interested but which can be profitably processed by heap leaching.
With the right grade, as Ramshaw points out, heap leaching gold will still be profitable if the price of gold falls back because it is the low-cost production technique.
Momentum PR is pleased to have produced an informative and comprehensive report on Corex Gold, available here – Corex Gold Corporation Report.
If you would like more information on Corex Gold; listed on the TSX Venture exchange under the symbol: CGE. Following the transaction closing the Company will trade under the ticker symbol: MAI.
Momentum PR
Jonathan Williams, Managing Director
+1.450.332.6939
media@momentumpr.com
info@momentumpr.com
https://momentumpr.com/
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency, representing companies within the Canadian investment community.
Since 2009, Momentum PR has been servicing small and mid-cap Canadian-listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies, through online and offline channels.
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- Published in Corex Gold
Corex Gold Receives Overwhelming Shareholder Approval for Plan of Arrangement With Minera Alamos Inc.
Corex Gold Corporation (“Corex” or the “Company”) (TSX-V:CGE) is pleased to announce that shareholders of the Company have overwhelmingly voted in favour of the previously announced plan of arrangement (the “Arrangement”) with Minera Alamos Inc. (TSX Venture:MAI), see press release dated January 30th 2018.
A total of 71,679,327 common shares of the Company, representing approximately 45.25% of the Company’s issued and outstanding common shares were voted. The Arrangement was approved by 100% (due to rounding) of the votes cast by Corex shareholders (including disinterested shareholders). A copy of the complete report on voting will be made available on SEDAR at www.sedar.com.
A summary of the voting results is presented below:
Total Votes FOR: | 71,677,817 | Total Votes AGAINST: | 1,510 |
Disinterested Votes FOR: | 61,166,237 | Disinterested Votes AGAINST: | 1,510 |
The Arrangement is expected to close on or about April 10, 2018 resulting in Corex becoming a wholly owned subsidiary of Minera Alamos with the former shareholders of Corex thereafter owning approximately 50% of Minera Alamos, The closing is subject to applicable regulatory approvals and the satisfaction of other customary conditions.
About Corex Gold Corporation
Corex Gold Corp is a Canadian resource company focused on developing its 100% owned Santana flagship property in Sonora State, Mexico, where recent bulk test leaching and development work has resulted in the first gold produced from the property.
For Further Information Please Contact: | ||||
Corex Gold Corporation | ||||
Doug Ramshaw | President & CEO | |||
Tel: 236-521-0429 | Email: doug@corexgold.com | Website: www.corexgold.com | ||
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “Forward‐Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: anticipated timing of closing of the Arrangement.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by the Company, are inherently subject to uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Corex has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary court, stock exchange and regulatory approvals or consents and lack of material changes with respect to Minera Alamos and Corex and their respective businesses, all as more particularly set forth in the Arrangement Agreement. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the parties have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Corex does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
- Published in Corex Gold