Fronteer And Teck Reveals Sale Of Agi Dagi And Kirazli Gold Projects To Alamos - Quick Facts

Fronteer Development Group Inc. (FRG.TO,FRG) announced that Fronteer, Teck Resources Ltd., (TCK.B.TO,TCK) and Alamos Gold Inc. (AGI.TO) have entered into a memorandum of understanding, providing for Alamos to acquire 100% of the Agi Dagi and Kirazli gold projects from Teck and Fronteer through the acquisition of certain Turkish subsidiaries held by Teck and Fronteer.

Alamos is to pay a total of US$40 million and issue a total of 4 million shares to Teck and Fronteer in consideration for acquiring 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. The agreement does not include the Halilaga property, a copper-gold porphyry project in Turkey also owned by Teck and Fronteer.

For comments and feedback contact: editorial@rttnews.com

Follow RTT