Richmont Mines Closes Previously Announced Bought Deal Financing of Common Shares
April 23 2014 - 8:54AM
Marketwired
Richmont Mines Closes Previously Announced Bought Deal Financing of
Common Shares
MONTREAL, QUEBEC--(Marketwired - Apr 23, 2014) - Richmont Mines
Inc. (TSX:RIC)(NYSEMKT:RIC), ("Richmont" or the "Corporation"),
announces that it has closed the bought deal financing previously
announced on April 3, 2014.
The Corporation issued a total of 8.05 million common shares at
a price of CAN$1.45 per share, including the entire over-allotment
option of 1.05 million common shares, on a bought-deal basis, for
aggregate gross proceeds of $11,672,500, through a syndicate of
underwriters lead by Macquarie Capital Markets Canada Ltd. and
including BMO Nesbitt Burns Inc., CIBC World Markets Inc. and
Desjardins Securities Inc (the "Offering").
The proceeds from the Offering will be used for working capital
and general corporate purposes.
About Richmont Mines Inc.
Richmont Mines has produced over 1,400,000 ounces of gold from
its operations in Quebec, Ontario and Newfoundland since beginning
production in 1991. The Corporation currently produces gold from
the Island Gold Mine in Ontario, and the Beaufor Mine, Monique Mine
and the W Zone Mine in Quebec. The Corporation is also advancing
the Island Gold Deep project beneath the Island Gold Mine in
Ontario. With over 20 years of experience in gold production,
exploration and development, and prudent financial management, the
Corporation is well-positioned to cost-effectively build its
Canadian reserve base and to successfully enter its next phase of
growth. Richmont routinely posts news and other important
information on its website (www.richmont-mines.com).
Forward-Looking Statements
This news release contains forward-looking statements that
include risks and uncertainties. When used in this news release,
the words "estimate", "project", "anticipate", "expect", "intend",
"believe", "hope", "may" and similar expressions, as well as
"will", "shall" and other indications of future tense, are intended
to identify forward-looking statements. The forward-looking
statements are based on current expectations and apply only as of
the date on which they were made.
The factors that could cause actual results to differ materially
from those indicated in such forward-looking statements include
changes in the prevailing price of gold, the Canadian-United States
exchange rate, grade of ore mined and unforeseen difficulties in
mining operations that could affect revenue and production costs.
Other factors such as uncertainties regarding government
regulations could also affect the results. Other risks may be set
out in Richmont Mines' Annual Information Form, Annual Reports and
periodic reports. The forward-looking information contained herein
is made as of the date of this news release, and the Corporation
undertakes no obligation to publicly update such forward-looking
information to reflect new information, subsequent or otherwise,
unless required by applicable securities laws.
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Investor Relations:Jennifer AitkenRichmont Mines Inc.514
397-1410 ext.
101jaitken@richmont-mines.comwww.richmont-mines.com
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