Le Lézard
Classified in: Mining industry, Business
Subjects: TNM, ACC

Richmont Mines Completes Sale of Non-Core Québec Assets



TORONTO, October 2, 2017 /PRNewswire/ --

Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) ("Richmont" or the "Corporation") confirms that it has closed the previously announced transaction with Monarques Gold Corporation (TSXV: MQR) to acquire Richmont's Quebec based assets including the Beaufor Mine, the Camflo Mill and the Wasamac development project as well as all other mineral claims, mining leases and mining concessions located in the province of Quebec.

About Richmont Mines Inc.
Richmont Mines currently produces gold from the Island Gold Mine in Ontario, where it is also advancing development of the significant high-grade resource extension at depth. 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 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.

Renaud Adams, President and CEO, Phone: +1-416-368-0291 ext. 101; Anne Day, Senior Vice-President, Investor Relations, Phone: +1-416 368-0291 ext. 105



These press releases may also interest you

at 07:00
For the fifth year in a row, Systems Planning and Analysis, Inc. (SPA), has been named a Top Workplace by The Washington Post. The Washington Post's 2018 Top Workplaces are determined based on feedback collected via an...

at 06:19
On June 24, 2018, women in Saudi Arabia will be legally able to drive on the roads of the Kingdom. This is a momentous time in history and we are delighted to be able to welcome Saudi women "to the front", to the driver's seat. Ford Motor Company...

at 05:01
Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Veevo Instruments Inc., Insys Therapeutics, Inc., TAL Education Group and Newell Brands Inc., as detailed below: Veevo Instruments Inc.(VECO) Johnson Fistel,...

at 00:00
Compare-autoinsurance.org has released a new blog that explains the importance of collision car insurance and why clients should buy it. Collision car insurance is not a mandatory policy and its aim is to reimburse the policyholder for the damage...

22 jun 2018
ModulTrade creates a foundation for the launch of ModulTrade blockchain based smart-contract platform (MT WALLET and MT MARKET) in the African continent after signing agreements with leading financial & logistic organizations and meeting with an...

22 jun 2018
BABB, a UK-based financial venture that uses blockchain technology and biometrics to offer access to banking services for all, is soon to hold an equity crowdsale. The sale will raise money to cover the regulatory and legal costs of obtaining a...




News published on 2 october 2017 at 12:59 and distributed by: