The Shareholders of Louvem Mines Approve the Amalgamation With A Wholly-Owned Subsidiary of Richmont Mines
19 6월 2010 - 12:56AM
Marketwired
Louvem Mines Inc. (TSX VENTURE: LOV) ("Louvem" or the "Company")
announces that at its annual and special general meeting of
shareholders held today, the holders of the majority of the shares
of Louvem, excluding those held by Richmont Mines Inc.
("Richmont"), have approved the amalgamation of Louvem and 9222 -
0383 Quebec inc., a wholly-owned subsidiary of Richmont (the
"Amalgamation").
The TSX Venture Exchange, the Toronto Stock Exchange and the
NYSE Amex have all approved the Amalgamation subject only to the
usual conditions.
Louvem expects the Amalgamation to take effect on June 30,
2010.
In conformity with the Amalgamation Agreement entered into on
May 18, 2010 between Louvem and Richmont (the "Amalgamation
Agreement"), on the effective date of the Amalgamation the
outstanding shares of Louvem will be cancelled and the shareholders
of Louvem other than Richmont (the "Minority Shareholders") will
receive one share of Richmont for each 5.4 shares of Louvem that
they hold. The Minority Shareholders will also be entitled to
receive an amount in cash for their odd lots of shares of Louvem
(see the Amalgamation Agreement on SEDAR at www.sedar.com).
Richmont expects to issue the shares during the week of July 5,
2010. Louvem and 9222 - 0383 Quebec inc. will continue to exist as
one company that will be a wholly-owned subsidiary of Richmont.
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: Louvem Mines Inc. Jennifer Aitken Investor Relations
514-397-1448 514-397-8620 (FAX) www.louvem.com
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