11:39 AM EST - Alamos Gold Inc. : said it reached a Memorandum of Understanding providing for Alamos to acquire 100% of the Agi Dagi and Kirazli gold projects from Fronteer Development Corp. and Teck Resources Limited, through the acquisition of certain Turkish subsidiaries held by Teck and Fronteer. Alamos is to pay a total of $40 million U.S. and issue a total of four million shares to the vendors in consideration for these two projects. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net Smelter Return Royalty on production from the Agi Dagi project. Fronteer and Teck have agreed to negotiate exclusively with Alamos. Completion of the transaction is subject to 60-day due diligence period, the execution of definitive agreements, and the approval of Alamos' Board of Directors and the TSX. Alamos Gold Inc.
shares T.AGI are trading down $0.29 at $9.95.
