Alamos Gold completes acquisition of Richmont Mines

On September 11, 2017, Alamos Gold Inc. ("Alamos") and Richmont Mines Inc. ("Richmont") announced that they entered into a definitive agreement whereby Alamos will acquire all of the issued and outstanding shares of Richmont pursuant to a plan of arrangement to be completed under the Business Corporations Act (Québec).

Under the terms of the agreement, unanimously approved by the Boards of Directors of Alamos and Richmont, all of Richmont's issued and outstanding common shares will be exchanged on the basis of 1.385 Alamos common shares for each Richmont common share, with an implied consideration of C$14.20 per Richmont share and a total implied equity value of approximately US$770 million on a fully diluted in-the-money basis and an enterprise value of US$683 million.

Alamos announced the closing of the transaction on November 23, 2017. Upon closing, Alamos has approximately 389,059,503 Class A shares outstanding with Alamos and former Richmont shareholders owning approximately 77% and 23% of the pro forma company, respectively.

Richmont's common shares will be de-listed from the Toronto Stock Exchange and the New York Stock Exchange on November 24, 2017.

Richmont produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Québec.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America.

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