Shareholders support Purchase of Richmont Mines by Alamos Gold

Nov 17, 2017 @ 08:32

Alamos Gold Inc. and Richmont Mines Inc. are pleased to announce that shareholders of both companies have overwhelmingly voted in favour of the plan of arrangement at their respective special meetings of shareholders.

The Transaction, whereby Alamos will acquire all of the issued and outstanding shares of Richmont, was approved by 98.46% of votes cast by Alamos shareholders and 92.56% of votes cast by Richmont shareholders. A copy of the complete report on voting for each of Richmont and Alamos will be made available on SEDAR and EDGAR.

The Transaction is expected to close on November 23, 2017, subject to applicable regulatory approvals and the satisfaction of other customary conditions.

“With the acquisition of Richmont we are strengthening our asset base and profitability. We are very pleased with the strong support for the transaction and expect to create significant value for shareholders as we deliver on the expansion at Island Gold and continue to unlock its exploration potential,” said John A. McCluskey, President and Chief Executive Officer of Alamos.

“This strategic transaction delivers on our commitment to create long-term sustainable value as our shareholders will benefit from having meaningful ownership in a diversified intermediate producer with a portfolio of high-quality assets and a proven and experienced management team while maintaining exposure to the significant potential of the Island Gold Mine,” said Renaud Adams, President and Chief Executive Officer of Richmont.

About Alamos Gold Inc.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young–Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,300 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in Ontario and is also advancing development of the significant high-grade resource extension to the east and at depth. With more than 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation has successfully positioned the Island Gold Mine to cost-effectively build its Canadian reserve base and to enter its next phase of growth. The Corporation’s shares are traded on the TSX and NYSE under the symbol “RIC”.mont Mines Inc., 416-368-0291, ext. 105, [email protected]