Aurizon Mines Arranges Special Committee to Assess Alamos Offer

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By jturbin | January 19, 2013 6:46 AM EST

Gold Alert

Aurizon Mines (ARZ.TSX, AMEX: AZK) announced that it has appointed Scotia Capital Inc. as financial advisor and DuMoulin Black LLP and Blake, Cassels & Graydon LLP as legal counsel to assist in responding to the unsolicited bid from Alamos Gold that was made on January 14, 2013.

Highlights:

* The Board of Directors of Aurizon Mines has appointed a special committee of independent Directors to review and evaluate the Alamos Offer

* The special committee has appointed CIBC World Markets Inc. as its financial advisor

* Blake, Cassels & Graydon LLP is also providing advice to the special committee

* Aurizon Mines reminded its shareholders that the Company recommends that shareholders defer taking any action concerning Alamos Gold’s offer until Aurizon’s Board of Directors makes a recommendation regarding the merits of the offer

John McCluskey, President and CEO of Alamos Gold:

“We believe that our Offer presents an attractive alternative for Aurizon shareholders. In addition to the Aurizon Shares we recently acquired, shortly before announcing our Offer, we approached a select few major institutional holders of Aurizon Shares. Each of these holders was supportive of us making the Offer. This response adds to our confidence that our Offer is attractive to Aurizon shareholders. We believe the combined companies will form one of the strongest and lowest risk production and growth profiles in the gold sector today.”

Paolo Lostritto, National Bank Financial:

“While we view the offer as providing reasonable value, there appears to be room for a subsequent sweetened offer if needed.”

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This article is contributed by Gold Alert and does not represent the views or opinions of International Business Times.

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