Newspaper article The Canadian Press

Alamos Gold to Acquire Richmont Mines in Friendly Offer Worth US$770 Million

Newspaper article The Canadian Press

Alamos Gold to Acquire Richmont Mines in Friendly Offer Worth US$770 Million

Article excerpt

Alamos Gold to acquire Richmont Mines

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TORONTO - Alamos Gold Inc. (TSX:AGI) has signed a friendly deal to acquire Richmont Mines Inc. (TSX:RIC) in an all-stock offer valued at about US$770 million.

Under the agreement, Richmont shareholders will receive 1.385 Alamos shares for each Richmont share they hold.

The offer implies a value of C$14.20 per Richmont share based on the closing price for Alamos shares on Sept. 8 when Richmont shares closed at C$11.62.

Once the deal is completed, Richmont shareholders will own approximately 23 per cent of the combined company.

Richmont produces gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.

Concurrent with the deal, Richmont will sell its Quebec assets including the Beaufor Mine, Camflo Mill, Wasamac development project as well as all other mineral claims, mining leases and mining concessions to Monarques Gold Corp. …

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