Business
Mines d'Or Orbec Signs Agreement to Be Acquired by IAMGOLD Corporation
Brossard, Québec--(Newsfile Corp. - October 20, 2025) - Mines d'Or Orbec Inc. (TSXV: BLUE) (OTC Pink: BLTMF) ("Orbec" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement dated October 19, 2025 (the "Arrangement Agreement") with IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD") 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...
About this update from Iamgold Corporation
[{"type":"text","content":"Brossard, Québec--(Newsfile Corp. - October 20, 2025) - Mines d'Or Orbec Inc. (TSXV: BLUE) (OTC Pink: BLTMF) ("Orbec" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement dated October 19, 2025 (the "Arrangement Agreement") with IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD") 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").","length":639,"tagName":"p"},{"type":"text","content":"Under the terms of 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 in cash and 0.003466 of an IAMGOLD common share ("IAMGOLD Shares") for each Orbec Share, implying a total equity value, based on all of the issued and outstanding Orbec Shares on a fully diluted basis, of approximately C$18.1 million, and representing a premium of approximately 25% to the closing price of the Orbec Shares on the TSX Venture Exchange ("TSXV") as of market close on October 17, 2025. IAMGOLD currently owns 7,142,857 Orbec Shares, representing approximately 6.70% of the Orbec Shares outstanding. Pursuant to the Transaction, IAMGOLD expects to issue to holders of Orbec Shares (other than IAMGOLD) approximately 369,341 IAMGOLD Shares.","length":890,"tagName":"p"},{"type":"text","content":"John Tait, Chief Executive Officer of Orbec, commented: "This Transaction represents an exceptional outcome for Orbec shareholders. Over the past several years, we have advanced the Muus Project into one of Quebec's most promising gold exploration plays, with early drilling confirming a strong geological connection to IAMGOLD's adjacent Nelligan and Monster Lake deposits. Through this Transaction, Orbec shareholders will realize immediate value of $0.125 per Orbec share through a 50% cash payment ($0.0625 per Orbec share) and will continue to benefit from the district's significant exploration upside through the 50% share consideration in IAMGOLD. We are confident that under IAMGOLD's stewardship, t...