Richmont Mines CEO enters automatic securities disposition plan
Richmont Mines announces that Renaud Adams, President & CEO, has entered into an automatic securities disposition plan. The ASDP was prepared in accordance with applicable provincial securities legislation, and relates exclusively to the sale of employment inducement stock options awarded to Adams in November, 2014. The objective of the ASDP is to facilitate the exercise and sale of the remaining 675,000 of the original Inducement Options of Richmont currently held by Adams. The options will be exercised and sold by an independent broker on the open market over a period of time up to their expiration date of October 15, 2019 and are subject to minimum price thresholds as specified in the ASDP. For greater certainty, the ASDP does not cover other equity holdings held by Adams.