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IAMGOLD Signs Agreement to Acquire Mines D'Or Orbec Inc.
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontari...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Signs Agreement to Acquire Mines D'Or Orbec Inc.All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - October 20, 2025) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (\"IAMGOLD\" or the \"Company\") is pleased to announce that the Company has signed a definitive arrangement agreement (the \"Arrangement Agreement\") with Mines D'Or Orbec Inc. (TSXV: BLUE) (\"Orbec\") pursuant to which IAMGOLD has agreed to acquire all of the issued and outstanding common shares of Orbec (each, an \"Orbec Share\") by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the \"Transaction\"). The acquisition will consolidate IAMGOLD's existing ownership of Orbec Shares through which the Company will add the highly prospective Muus Project, which is adjacent to the Company's Nelligan and Monster Lake Projects in the Chibougamau region of Quebec, Canada. Pursuant to the Arrangement Agreement, Orbec shareholders will receive total consideration representing a value of C$0.125 per Orbec Share in a cash and shares transaction comprised of C$0.0625 per Orbec Share and 0.003466 of an IAMGOLD common share (\"IAMGOLD Shares\") for each Orbec Share. This implies a total equity value based on fully diluted shares outstanding, net of IAMGOLD's ownership, of C$17.2 million and represents a premium of approximately 25% to the closing price of the Orbec Shares on the TSX Venture Exchange as of market close on October 17, 2025. IAMGOLD currently owns 7.14 million Orbec Shares, representing approximately 6.70% of the Orbec Shares outstanding. Excluding IAMGOLD's existing ownership of Orbec, IAMGOLD expects to issue approximately 369,341 IAMGOLD Shares.Highlights of the TransactionConsolidation of IAMGOLD's land position in the Chibougamau district, a rapidly growing premier mining jurisdiction in Quebec, where the Company's Nelligan and Monster Lake assets are located.The Nelligan and Monster Lake Projects have combined estimated Measured and Indicated Mineral Resources of 3.2 million ounces of gold (\"Moz Au\") and Inferred Mineral Resources of 5.6 Moz Au positioning the consolidated camp among the largest pre-production projects in Canada1.The Muus Project would contribute 24,979 hectares (\"ha\") of mineral rights within the immediate area of IAMGOLD's proper...