Richmont Mines investor plans to discuss shareholder value with board

By Lisa Kerner

Charlotte, N.C., Dec. 1 - Oxbridge Bank & Trust SCC reported a 19.3% stake in Richmont Mines Inc., according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.

The investor bought 2,310,854 shares of the company's stock between Nov. 9 and Nov. 27 priced from $3.42 to $3.50 each, the filing said.

In the filing, Oxbridge said it plans to discuss ways of enhancing shareholder value with the board of directors, management and other shareholders.

Oxbridge beneficially owns 5,028,254 shares of the Rouyn-Noranda, Quebec-based gold mining company.

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