Argonaut Gold Declares Necessary Redemption of Convertible Debentures
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Argonaut Gold Declares Necessary Redemption of Convertible Debentures

Argonaut Gold Inc. Announces Successful Tender Offer for Convertible Debentures

TORONTO, Sept. 3, 2024 – Argonaut Gold Inc. (“Argonaut” or the “Company”), a subsidiary of Alamos Gold Inc., revealed today that over 90% of its outstanding 4.625% senior unsecured convertible debentures have been tendered to the company in connection with the recent Debenture Offer. The offer was made in relation to the acquisition of all issued and outstanding common shares of the Company by Alamos Gold Inc.

The Company has announced that it will redeem all outstanding Debentures that were not tendered to the offer. The redemption will be equal to 100% of the principal amount of the Untendered Debentures, along with accrued and unpaid interest up to, but excluding, September 3, 2024. The redemption is expected to take place on or around September 6, 2024, with a total value of approximately US$58.2 million.

The Debentures are set to be delisted from the Toronto Stock Exchange (TSX) on September 3, 2024.

Warning Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding the business, operations, and financial performance of Argonaut. These statements are based on management’s opinions and estimates at the time they are made, and are subject to various risks and uncertainties that could cause actual events or results to differ materially from those projected.

While Argonaut has made efforts to identify factors that could cause actual events to differ from the forward-looking statements, there is no guarantee that they will be correct. The company does not undertake any obligation to update forward-looking statements, and readers are advised not to place undue reliance on them.

In conclusion, Argonaut Gold Inc. has successfully completed a tender offer for its outstanding convertible debentures, with over 90% of the debentures being tendered. The company will proceed with the redemption of the Untendered Debentures, with a total value of US$58.2 million. The delisting of the Debentures from the TSX is scheduled for September 3, 2024.