MONTREAL - Shareholders of both Louvem Mines and Richmont Mines have approved a deal whereby Louvem and 922-0383 Quebec, a wholly owned subsidiary of Richmont, will amalgamate. Shareholders of Louvem will ultimately receive one Richmont share for each 5.4 shares of Louvem held. Richmont will issue 1.4 million common shares early in July.
Louvem and Richmont each have a 50% interest in the Beaufor gold mine near Val d'Or, QC. The property recently produced its one-millionth ounce. Additional information is available at www.Richmont-Mines.com.