* Deal valued at $84.8 mln
* Alamos to buy units of Fronteer and Teck Resources
* Alamos to pay $40 mln and offer 4 mln shares
* Shares up 6 pct
Canada's Alamos Gold Inc has agreed to buy two gold projects in Turkey from Fronteer Development Group Inc and Teck Resources Ltd in a cash-and-stock deal worth about $85 million.
Alamos will pay $40 million in cash and offer 4 million of its shares to buy certain Turkish units held by Fronteer and Teck, it said in a statement.
Based on Alamos' close of C$11.91 Tuesday on the Toronto Stock Exchange, the share component of the transactions will amount to C$47.6 million ($45 million).
The common shares will be issued on a private placement basis and will be subject to a four-month hold period, Alamos said.
Agi Dagi and Kirazli are advanced-stage gold exploration projects that are part of the recently established gold and copper Biga Mineral District, located in the Biga Peninsula of northwestern Turkey.
The deal is expected to close as early as Dec. 17 and no later than Jan. 31, 2010, Alamos said.
Alamos shares were up 6 percent at C$12.59 in late morning trade.
($1=1.063 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Unnikrishnan Nair)