MOA's VLake JV partner - RIC newsMr. Martin Rivard reports
RICHMONT MINES INC ANNOUNCES BOUGHT DEAL OF COMMON SHARES
Richmont Mines Inc. has today entered into an agreement with a syndicate led by Desjardins Securities Inc. and including Blackmont Capital Inc. and BMO Nesbitt Burns Inc. under which the underwriters have agreed to buy 3.1 million common shares from Richmont Mines at a price of $4.90 per share representing total gross proceeds of approximately $15.2-million subject to the fulfillment of certain conditions. Closing is expected to be on or before May 30, 2006.
The net proceeds of the offering will be used to finance Richmont Mines' Canadian exploration and development program and for general corporate purposes.
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C.Gert