Reveals C$25M Substantial Issuer Bid
Amerigo Resources Ltd’s (TSX: ARG) Board of Directors has reached a decision to reinstate the declaration and payment of dividends, on a quarterly basis commencing in the fourth quarter of 2021.
The company also intends to commence a substantial issuer bid to purchase for cancellation from Amerigo shareholders who choose to participate up to C$25 million in value of its common shares in the authorised share structure of the company.
“Today’s announcements reflect Amerigo’s strong operating and financial results and confidence in our outlook,” said Aurora Davidson, Amerigo’s President and CEO.
“We have a strong balance sheet, and the financial flexibility to pay quarterly dividends to shareholders commencing this year.
“The issuer bid will also allow us to enact an orderly retirement of up to Cdn$25 million in the capital of Amerigo.
“Commencing in the fourth quarter of 2021, it is the intention of the Board of Directors of Amerigo to declare and pay quarterly dividends to our shareholders”, added Ms. Davidson.
“The Board continues to evaluate all options, including additional share buybacks, to return capital to shareholders in a prudent manner.”
The declaration of dividends will remain at the discretion of the Board and will depend upon the financial results of Amerigo and other factors of relevance determined by the Board and will be subject to the maintenance of appropriate levels of working capital.
Amerigo has retained Gowling WLG (Canada) LLP to act as legal counsel and appointed Computershare Investor Services Inc. to act as depositary for the Offer.
For further information please visit: http://www.amerigoresources.com/
