/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO
THE UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
TORONTO, June 7, 2016 /CNW Telbec/ - Richmont Mines Inc.
(TSX - NYSE MKT: RIC) ("Richmont" or the "Corporation")
announces today that it has completed the previously announced
bought-deal prospectus offering (the "Offering"). Pursuant to the
Offering, the Corporation has issued 2,990,000 common shares (the
"Common Shares") at a price of CAN$10.40 per Common Share (the
"Offering Price") for gross proceeds of approximately CAN$31
million, that includes 390,000 common shares issued pursuant to the
exercise in full of the underwriter's over-allotment option. The
Offering was led by Macquarie Capital Markets Canada Ltd. on behalf
of a syndicate of underwriters (the "Underwriters"). The
Corporation intends to use the net proceeds of the Offering to
aggressively expand the current exploration program as well as
potential organic growth opportunities at the cornerstone Island
Gold Mine.
The final short form prospectus and the documents incorporated
by reference therein may be obtained upon request from the
Secretary of the Corporation at 161 Avenue Principale, Rouyn-Noranda, Québec J9X 4P6 and via
www.sedar.com.
The Common Shares offered have not been registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent
registration or an applicable exemption from the registration
requirements.
About Richmont Mines Inc.
Richmont Mines has produced
over 1.6 million ounces of gold from its operations in
Quebec, Ontario and Newfoundland since beginning production in
1991. The Corporation currently produces gold from the Island Gold
Mine in Ontario and the Beaufor
Mine in Quebec. Founded in 1981
and with more than 35 years of experience in gold production,
exploration and development, combined with prudent financial
management, the Corporation is well positioned to cost-effectively
build its Canadian asset base and to successfully advance 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" 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, 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 factors such as uncertainties regarding government
regulations could also affect the results. 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.
SOURCE Richmont Mines