TSX - NYSE: RIC
TORONTO, Aug. 8, 2017 /PRNewswire/ - Richmont Mines Inc.
(TSX - NYSE: RIC) ("Richmont" or the "Corporation") announces that
Renaud Adams, President & Chief
Executive Officer, has entered into an automatic securities
disposition plan ("ASDP"). The ASDP was prepared in accordance with
applicable provincial securities legislation, and relates
exclusively to the sale of employment inducement stock options
("Inducement Options") awarded to Mr. Adams in November, 2014.
The objective of the ASDP is to facilitate the exercise and sale
of the remaining 675,000 (approx. 1% of the current shares
outstanding) of the original Inducement Options of Richmont
currently held by Mr. Adams. The options will be exercised and sold
by an independent broker on the open market over a period of time
up to their expiration date of October 15,
2019 and are subject to minimum price thresholds as
specified in the ASDP. For greater certainty, the ASDP does not
cover other equity holdings held by Mr. Adams.
An ASDP permits an insider, at a time when such insider is not
in possession of material non-public information regarding an
issuer, to establish a pre-arranged plan to sell securities of the
issuer on an automatic basis, regardless of whether trading
restrictions are subsequently imposed or the insider subsequently
receives material non-public information regarding the issuer or
its securities. Once an ASDP is established, the insider is not
permitted to exercise any further discretion or influence over how,
whether or when dispositions will occur pursuant to the plan and
may not transmit material non-public information regarding the
issuer or its securities to the broker under the ASDP.
Dispositions pursuant to the plan will be reported on SEDI at
www.sedi.ca in accordance with applicable Canadian securities
laws.
About Richmont Mines Inc.
Richmont Mines currently
produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing
development of the significant high-grade resource extension at
depth of the Island Gold Mine in Ontario. With more than 35 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.
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",
"objective" 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. Except as may be required by law or
regulation, the Corporation undertakes no obligation and disclaims
any responsibility to publicly update or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise.
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.
SOURCE Richmont Mines