Toronto, June 12, 2015 – Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX-V: MAI) announced today that it has prepaid and fully redeemed $770,000 in convertible debentures secured against the Los Verdes project (see press release, September 23, 2014).
“Our 100% owned Los Verdes project carries no NSR’s and is now clear of any third party entitlements or interests,” said Chris Frostad, Chief Executive Officer, Minera Alamos Inc. “The elimination of the company’s debt will provide us with maximum flexibility when securing our project financing later this year.”
In addition, the Company has now closed the shares for debt transaction previously announced on June 4, 2015 whereby Minera Alamos agreed to issue 600,000 common shares at a deemed price of $0.10 per common share to settle $60,000 of indebtedness.
All common shares issued in connection with this transaction are subject to a statutory hold period, expiring on October 12, 2015 in accordance with applicable securities legislation.
About Minera Alamos
Minera Alamos is a junior exploration and development company; its projects include the Los Verdes open pit copper-molybdenum porphyry project in Sonora, northern Mexico that is currently in development.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information please contact:
Minera Alamos Inc.
Chris Frostad
(416) 306-0990
www.mineraalamos.com
Original Article: http://www.mineraalamos.com/news/?id=412
