07:27 AM EST, 12/19/2024 (MT Newswires) -- Alamos Gold Inc. ( AGI ) was at last look up 1.5% in US premarket as it announced Thursday that it has filed with, and received acceptance from the Toronto Stock Exchange of, a Notice of Intention to make a Normal Course Issuer Bid permitting the company to purchase for cancellation up to 18,605,661 Class A Common Shares, representing 5% of its public float of the common shares, outstanding as at December 13, 2024.

A statement noted this represents approximately 4.4% of the company's total issued and outstanding common shares, as at December 13, 2024. The company's public float was 372,113,224 common shares and total issued and outstanding common shares was 420,282,115 common shares.

Thursday's statement said Alamos may purchase common shares under the Normal Course Issuer Bid over the 12-month period beginning December 24, 2024 and ending December 23, 2025. A Normal Course Issuer Bid is being undertaken as the Company and its Board of Directors believe the price of its Common Shares from time to time to be not reflective of the underlying value of the Company.