Argonaut Gold Inc. entered into a plan of arrangement to Spin-Off Assets in the United States and Mexico on March 27, 2024. Argonaut's assets in the United States and Mexico will be spun out to its existing shareholders as a newly created junior gold producer. SpinCo will own the Florida Canyon mine in the United States, as well as the El Castillo Complex, the La Colorada operation, and the Cerro del Gallo project, located in Mexico. In a related transaction, Alamos Gold Inc. entered into a definitive agreement to acquire Argonaut Gold Inc. Under the terms of the Agreement, each Argonaut common share outstanding will be exchanged for 0.0185 Alamos common shares and 1 share of SpinCo. As of April 8, 2024, each Argonaut common share outstanding will be exchanged for 0.0185 Alamos common shares and 0.1 share of SpinCo. As of June 28, 2024, Argonaut Gold shareholders approved the transaction. As of July 11, 2024, the arrangement agreement receives approval of clearance decision from the Comisión Federal de Competencia Económica and the final order of the Ontario Superior Court of Justice. Cormark Securities Inc. provided the fairness opinion, Scotiabank is acting as financial advisor, Sander Grieve of Bennett Jones LLP is acting as a legal advisor to Argonaut.

Argonaut Gold Inc. completed the Spin-Off of Assets of Argonaut in the United States and Mexico on July 12, 2024.