Richmont reappoints directors, adds Chamandy to board

2009-05-15 15:59 ET - News Release

Mr. Denis Arcand reports

Richmont Mines Inc. confirms the following reappointments to its board of directors of Denis Arcand, Martin Rivard, Rejean Houle and Raynald Vezina, and the appointment of Gregory Chamandy as a director, at the annual and special general meeting held in Montreal on May 14, 2009.

Mr. Arcand, who has served as a director of Richmont since 1995, has been appointed chairman of the board. During his career, Mr. Arcand was involved in the investment securities business, and has extensive experience in mining financing. Mr. Arcand is a fellow (FCSI) of the Canadian Securities Institute.

Mr. Chamandy has been appointed vice-chairman of the board. Mr. Chamandy, age 50, has an excellent record in developing small companies into major corporations. As co-founder, chairman and chief executive officer of Gildan Activewear, Mr. Chamandy built what was a simple textile manufacturer into a sophisticated vertically integrated apparel manufacturing giant. Subsequent to Gildan, Mr. Chamandy became the chairman and co-owner of Europe's Best, North America's largest-selling brand of frozen fruit, which was sold to JM Smucker in 2008. Mr. Chamandy is currently also the chairman of Oxbridge Private Wealth Management, a Canadian asset management company catering to high-net-worth individuals, and the co-chairman of Liquid Nutrition Inc., a rapidly growing Canadian smoothie and health bar chain.