Alio Gold Receives C$3.5 Million From Warrant Exercise and Buys Back 1% Ana Paula Royalty
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, B.C., Oct. 19, 2017 (GLOBE NEWSWIRE) -- Alio Gold Inc (TSX:ALO) (NYSE MKT:ALO) (“Alio Gold” or the “Company”), is pleased to announce that Goldcorp Inc. (TSX:G) (NYSE:GG) has exercised its warrants that expire on October 19, 2017 for total proceeds to the Company of C$3.5 million. The Company has also exercised a buy-back right from Goldcorp of a 1% net smelter royalty (“NSR”) on its Ana Paula project located in Guerrero, Mexico for US$2.9 million. “As we continue to advance the high grade, high margin Ana Paula project, the buy back of the 1% NSR is immediately accretive to the project and will deliver significant value to our shareholders over the long term,” said Greg McCunn, Chief Executive Officer. “We are advancing the Definitive Feasibility Study for the Project towards completion in Q2 2018 when we expect to make an investment decision to start construction. In parallel, we have initiated an exciting US$18 million exploration program at Ana Paula to investigate t
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