Business
Alamos Gold's Acquisition of Richmont Mines Receives Overwhelming Shareholder Approval
Alamos Gold's Acquisition of Richmont Mines Receives Overwhelming Shareholder Approval ...
About this update from Richards Group Inc.
[{"type":"text","content":"\n\n\n\nAlamos Gold's Acquisition of Richmont Mines Receives Overwhelming Shareholder Approval\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 16, 2017\n\n\n\nTORONTO, Nov. 16, 2017 /CNW Telbec/ - Alamos Gold Inc. (\"Alamos\") (TSX: AGI); (NYSE: AGI) and Richmont Mines Inc. (\"Richmont\") (TSX: RIC); (NYSE: RIC) are pleased to announce that shareholders of both companies have overwhelmingly voted in favour of the plan of arrangement (the \"Transaction\") at their respective special meetings of shareholders held earlier today.\n\nThe 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.\n\nThe Transaction is expected to close on November 23, 2017, subject to applicable regulatory approvals and the satisfaction of other customary conditions.\n\n\"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.\n\n\"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.\n\nAbout Alamos Gold Inc.\n\nAlamos 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 th...