12:05 PM EDT, 03/27/2024 (MT Newswires) -- Orford Mining Corp. ( ORMFF ) said Wednesday that it has secured shareholder approval for the previously announced proposed plan of arrangement under which Alamos Gold Inc. ( AGI ) will buy all of the outstanding common shares of Orford not already owned by Alamos.

Completion of the deal requires the final order of the Ontario Superior Court of Justice, which is expected to be sought on April 2.

Orford shareholders also approved the entry of the company into a non-convertible multi-draw credit facility or loan, applicable if the arrangement does not close by April 15, whereby Alamos may provide to Orford up to C$2 million to fund Orford's normal course business activities.

The company's shares rose 5% on last look on Wednesday.