Alamos Gold announces friendly acquisition of Richmont Mines

September 11, 2017

Torys is representing Alamos Gold with a team that includes Kevin Morris, Janan Paskaran, Braden Jebson, Michael Jason and Sharon Au (corporate/M&A), Andrew Wong and David Mattingly (tax), Don Roger (real estate), Andrew Gray (plan of arrangement), Andy Beck and Chris Bornhorst (securities).

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.

The transaction is expected to close mid-November 2017, subject to shareholder and court approval, applicable regulatory approvals, and the satisfaction of certain other closing conditions customary for a transaction of this nature.

Richmont currently 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.

Further information can be found on Canada Newswire’s website.

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