Daily News: September 11, 2017

Auramet Supports Monarques Acquisition of Richmont’s Quebec Assets


Monarques Gold entered into a definitive agreement with Richmont Mines to acquire all of Richmont’s mining assets in Québec.

In connection with the acquisition, Monarques entered into a $4 million credit facility to Auramet International.

Monarques will become the owner and operator of the Beaufor mine and the Camflo mill, and will retain Richmont’s Quebec-based site teams as the company is now positioned to become a gold producer. Richmont will hold a 19.9% interest in the corporation, inclusive of a $2 million investment by Richmont.