Richmont Mines Inc. Announces Intention to Acquire Louvem Mines Inc.
31 3월 2010 - 9:14PM
Marketwired
Richmont Mines Inc. ("Richmont") (TSX: RIC)(NYSE Amex: RIC) and
Louvem Mines Inc. ("Louvem") (TSX VENTURE: LOV) jointly announced
today that Richmont has notified Louvem that it intends to acquire
all of the issued and outstanding shares of Louvem that are not
currently owned by Richmont (the "Transaction"). Richmont holds
approximately 70% of the shares of Louvem. Richmont has entered
into support agreements whereby certain Louvem shareholders holding
approximately 54% of the Louvem shares not already owned by
Richmont have agreed to support the Transaction.
Richmont has delivered a letter to the independent directors of
Louvem requesting that Louvem form a special committee and retain a
financial advisor to assess the terms of the Transaction.
Under the proposed Transaction, holders of shares of Louvem
would receive one share of Richmont for each 5.4 shares of Louvem
held by them. Such consideration represents a value of $0.76 per
Louvem share and is a premium of approximately 48% to Louvem
shareholders, based on the respective closing prices on the TSX-V
and the TSX of the Louvem shares and the Richmont shares on March
30th, 2010.
The Transaction remains subject to the approval of the Board of
Directors of Louvem, regulatory approvals, the execution of
definitive documentation and the approval of the Louvem
shareholders. Richmont expects to issue approximately 1.4 million
shares if the proposed Transaction is completed. There can be no
assurance that the Transaction will be completed.
About Richmont Mines Inc.
Richmont has produced over 1,000,000 ounces of gold from its
operations in Quebec, Ontario and Newfoundland since beginning
production in 1991. With extensive experience in gold exploration,
development and mining, the Company is well positioned to
cost-effectively build its North American reserve base through a
combination of organic growth, strategic acquisitions and
partnerships. Richmont routinely posts news and other important
information on its website (www.richmont-mines.com).
About Louvem Mines Inc.
Louvem has a 50% interest in the Beaufor Mine and owns other
exploration properties located near Val-d'Or, in northwestern
Quebec, Canada. More information on Louvem Mines can be found on
its website (www.louvem.com).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: RICHMONT MINES INC. Jennifer Aitken Investor Relations
514-397-1410 jaitken@richmont-mines.com www.richmont-mines.com
Media Contact: EDELMAN Public Relations Marco Wingender
514-844-6665 ext. 240 marco.wingender@edelman.com
Louvem Mines Inc. (TSXV:LOV)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Louvem Mines Inc. (TSXV:LOV)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024