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Minera Alamos gains C$1.2M via sale of 3.4 million Prime Mining shares

It remains a “significant and supportive” shareholder of Prime Mining, with nearly 6.1 million shares still under its ownership

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The company disposed of 3,360,000 shares of Prime for gross proceeds of C$1,213,000

Minera Alamos Inc (CVE:MAI) added nearly C$1.2 million to its treasure chest with the sale of nearly 3.4 million shares in Prime Mining Corp. 

The company said Friday that it had disposed of 3,360,000 shares of Prime for gross proceeds of C$1,213,000. 

Proceeds from the sale will go towards the acquisition of a new crushing system and not impact available working capital for the ongoing construction of the Santana gold mine. 

READ: Minera Alamos hails encouraging drill findings at Santana gold project; completes initial water well testing

Despite the shares dump, Minera Alamos said it remains a “significant and supportive” shareholder of Prime Mining, with nearly 6.1 million shares still under ownership by the mining company.

In addition, Minera owns 3,350,000 warrants of Prime Mining that, if exercised, would increase Minera's ownership to 15.1%, on a partially diluted basis, it told shareholders.

The firm said that at the moment, it does not intend to change its holdings in Prime Mining.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.24 CAD

TSX-V:MAI
Market: TSX-V
Market Cap: $97.59 m
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