12:23 PM EDT, 04/03/2024 (MT Newswires) -- Alamos Gold ( AGI ) on Wednesday said it closed the C$16-million acquisition of Orford Mining ( ORMFF ) .

"We are pleased to complete the acquisition of Orford Mining ( ORMFF ) and its highly prospective Qiqavik Gold Project, located in Northern Quebec. The acquisition is consistent with our strategy of building out a pipeline of high-quality, long-term projects, in good jurisdictions to complement our near-term organic growth projects in Canada," chief executive John McCluskey said in a statement.

A final order was granted by the Ontario Superior Court of Justice on April 2 approving the plan of arrangement.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines, including the Young-Davidson and Island Gold mines in northern Ontario, and the Mulatos mine in Sonora State, Mexico. It also said last month it agreed to acquire Argonaut Gold ( ARNGF ) for shares worth US$325 million.

The company's shares were last seen unchanged at C$19.87 on the Toronto Stock Exchange.