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Richmont looking to dig up $27 million

from Northern Ontario Business

Richmont Mines is out to raise $27 million to extend the mine life and find gold reserves near its Island Gold Mine in northeastern Ontario. The gold miner recently announced an agreement with Macquarie Capital Markets Canada as the lead underwriter for the issuance of 2.6 million common shares on a bought-deal basis. The offering is expected to close on or about June 7. The money is earmarked for its current exploration program at its flagship Island Gold Mine near Dubreuilville in northeastern Ontario, "as well as potential organic growth opportunities" nearby. more

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