Alamos Gold Plans Purchase of Aurizon Mines for C$780 Million

Alamos Gold Inc. (TSX:AGI) announced that it has put forward an offer to acquire all of Aurizon Mines Ltd.’s (TSX:ARZ,AMEX:AZK) outstanding shares for about C$780 million in cash and stock. The offer values Aurizon at $4.65 per share and will remain open until February 19, 2013 at 5:00 p.m. EST.

As quoted in the press release:

The Offer reflects a premium of approximately 40% based on the closing price of C$3.33 for the Aurizon Shares on the TSX on January 9, 2013, and a premium of approximately 37% based on the volume-weighted average price of the Aurizon Shares on the TSX for the 20 trading days ended January 9, 2013.

As of today, Alamos owns 26,507,283 Aurizon Shares, representing over 16% of the issued and outstanding Aurizon Shares.

Click here to read the full Alamos Gold Inc. (TSX:AGI) press release.

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