TSX: IMG NYSE: IAG
TORONTO, April 12, 2012 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") announced today that it has received an
additional 3,112,525 warrants to purchase an equivalent number of
common shares of Galane Gold Ltd. ("Galane") (TSX-V: GG) pursuant to
that agreement by which Galane, indirectly, acquired ownership of the
Mupane gold mine in Botswana, Africa from the Company, as originally
announced by the Company on August 31, 2011. The receipt of these
additional warrants was contemplated in the original agreement upon
Galane's completion of its acquisition of Northern Lights Exploration
Company Pty. Ltd.
IAMGOLD's ownership of (assuming the exercise of common share purchase
warrants) 26,252,778 common shares of Galane maintains its approximate
49.9% interest in Galane's outstanding common shares (including common
shares that would be outstanding upon exercise of the warrants held by
The warrants to purchase common shares of Galane received today by
IAMGOLD are for investment purposes. IAMGOLD does not have any present
intention to acquire ownership of, or control or direction over,
additional securities of Galane. It is the intention of IAMGOLD to
evaluate its investment in Galane on a continuing basis and such
holdings may be increased or decreased in the future.
IAMGOLD (www.iamgold.com) is a leading mid-tier gold mining company producing approximately one
million ounces annually from five gold mines (including current joint
ventures) on three continents. In the Canadian province of Québec, the
Company also operates Niobec Inc., which produces more than 4.5 million
kilograms of niobium annually, and owns a rare earth element resource
close to its niobium mine. IAMGOLD is uniquely positioned with a strong
financial position and extensive management and operational expertise.
To grow from this strong base, IAMGOLD has a pipeline of development
and exploration projects and continues to assess accretive acquisition
opportunities. IAMGOLD's growth plans are strategically focused in
certain regions in Canada, select countries in South America and
This entire news release may be accessed via fax, e-mail, IAMGOLD's
website at www.iamgold.com and through CNW Group's website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué, veuillez
consulter le http://www.iamgold.com/French/Home/default.aspx.
For further information:
IAMGOLD has filed an early warning report on Galane Gold Ltd's. SEDAR
profile at www.sedar.com. A copy of the report may be obtained by contacting Laura Young at 416
SOURCE IAMGOLD Corporation