With this acquisition, Esperanza Resources is expected to terminate proposed acquisition of three gold projects from Pan American Silver.
Alamus has acquired the company four months after it failed to takeover Aurizon Mines. To acquire Esperanza, the company has offered a price that was a 38% premium over Esperanza’s 30-day price.
Esperanza president and CEO Greg Smith said that the offer provided the company’s shareholders with attractive returns.
"Further, the cash consideration provides liquidity and value certainty while the warrants ensure Esperanza shareholders will retain exposure to the success of the Esperanza gold project going forward," added Smith.
Alamos president and CEO John McCluskey said: "Esperanza is an excellent strategic fit within our existing portfolio and in our view, is one of the best undeveloped opportunities and significant open pit targets in Mexico."
