Alio Gold Sells Non-Core Assets for $19 Million
ALIO GOLD CORP (ALO)
Last alio gold corp earnings: 8/10 07:00 am
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US:NYSE Investor Relations:
aliogold.com/investors
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Source: GlobeNewswire
VANCOUVER, British Columbia, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), today announced that it has entered into a definitive agreement to sell non-core assets, located 40 kilometers south of the Company’s Florida Canyon Mine in Nevada to Coeur Rochester, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. (“Coeur”) (NYSE: CDE). The assets include those comprising the Lincoln Hill Project, Wilco Project, Gold Ridge Property and other nearby claims. Under the terms of the definitive agreement, the Company will receive total consideration of $19 million upon closing of the transaction (the “Transaction”), payable in shares of Coeur common stock (the “Consideration Shares”) valued based on a volume-weighted average stock price for the five (5) trading day period ending on the third trading day preceding the closing. Recently, the Company has also substantially reduced its outstanding debt with Macquarie Bank Limited
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