Alamos Gold Inc. (TSX:AGI) executed the letter of intent to acquire remaining 81% stake in Manitou Gold Inc. (TSXV:MTU) on December 6, 2022. Alamos Gold Inc. entered into a definitive arrangement agreement to acquire remaining 81% stake in Manitou Gold Inc. for CAD 13.6 million on February 28, 2023. Under the terms of the Agreement, Manitou shareholders will receive 0.003525 of an Alamos common share for each Manitou share. The transaction is subject to approval of Manitou shareholders, the receipt of court approval, stock exchange approval, holders of not greater than 5% of the outstanding Manitou Shares shall have exercised Dissent Rights that have not been withdrawn as of the Effective Date, listing of Alamos Shares to be issued pursuant to the Arrangement, approval by TSXV, each of the directors and officers of Manitou and each of the Manitou Subsidiaries shall have executed resignations and any other required regulatory approvals. The transaction does not require the approval of the shareholders of Alamos. The agreement has been approved by the Manitou board. The agreement has also been unanimously approved by the board of directors of Alamos. The shareholders of MTU have approved the transaction at its special shareholder meeting held on May 11, 2023. The transaction is expected to close in May 2023.

Hillcrest Merchant Partners is acting as exclusive financial advisor to the Manitou Special Committee and Jennifer Campbell of Fogler, Rubinoff LLP is acting as legal advisor to Manitou in connection with the transaction. Red Cloud Securities Inc. is the fairness opinion provider to Manitou in connection with the transaction. Alamos has engaged Kevin Morris and Braden Jebson of Torys LLP as its legal advisor in connection with the transaction. The transfer agent and registrar for the Alamos Shares is Computershare Trust Company of Canada. The transfer agent and registrar of Manitou is Marrelli Trust Company Limited. Computershare Investor Services Inc. acted as depositary to Manitou. Hillcrest will recieve a fee of CAD 0.584042 million.

Alamos Gold Inc. (TSX:AGI) completed the acquisition of remaining 81% stake in Manitou Gold Inc. (TSXV:MTU) on May 23, 2023. A Final Order was granted by the Ontario Superior Court of Justice on May 19, 2023 approving the Plan of Arrangement pursuant to which the transaction was implemented. The common shares of Manitou were delisted from the TSX Venture Exchange as of the close of business on or about May 24, 2023.