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Alamos Announces Waiver of Minimum Tender Condition, Extension of Offer for Aurizon

Alamos Gold Inc. (AGI.TO) announced that, in connection with its previously announced offer to acquire all of the outstanding shares of Aurizon Mines Ltd., (ARZ.TO) it has waived the minimum tender condition under the offer as described in the bid circular dated January 14, 2013.

The company also announced that, as a result of such change to the terms of the offer, it is required to extend the expiry date of the offer until 5:00 p.m., Toronto time, on March 19, 2013. All other terms of the offer remain unchanged.

Earlier this week, Aurizon received a friendly $796 million takeover offer from Hecla Mining Co., whose cash and stock offer, valued at $4.75 per Aurizon share, is 10 cents more than a hostile bid by Alamos, which was valued at $4.65 per share when it was announced.

"The company that would be created by the combination of Alamos and Aurizon represents far greater value than the highly-leveraged, hedged, debt-laden, financially constrained company proposed by the Aurizon board through the Hecla merger," said Alamos president and CEO John A. McCluskey.

AGI shares were down nine cents at $14.15.

ARZ shares fell ten cents to $4.39.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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