TSX: IMG NYSE: IAG
TORONTO, Aug. 14, 2017 /PRNewswire/ - IAMGOLD Corporation
("IAMGOLD") or (the "Company")
announces that it has acquired 27,777,777 common shares ("Common
Shares") of TomaGold Corporation ("TomaGold").
IAMGOLD subscribed for 27,777,777 Common Shares of TomaGold from
treasury (the "Acquisition"), representing approximately 19.98% of
the outstanding Common Shares of TomaGold. The Common Shares
were purchased at a price of $0.09
per Common Share, for an aggregate purchase price of $2,500,000. Prior to the Acquisition,
IAMGOLD did not hold any Common Shares of TomaGold.
IAMGOLD has not acquired the Common Shares with an intention to
acquire control of TomaGold. IAMGOLD will monitor the business,
prospects, financial condition and potential capital requirements
of TomaGold. Depending on its evaluation of these and other
factors, IAMGOLD may from time to time in the future increase or
decrease its ownership, control or direction over Common Shares or
other securities of TomaGold through market transactions, private
agreements, subscriptions from treasury or otherwise.
TomaGold's head office is located at 410, St-Nicolas, Suite 236, Montréal, Québec H2Y
2P5.
About the Monster Lake – TomaGold JV
The Monster Lake
project, located 50 kilometres southwest of Chibougamau, Quebec, Canada, is currently a
50:50 joint venture between IAMGOLD and Tomagold. IAMGOLD is
the operator of the joint venture and holds an option to earn a
further 25% undivided interest, for a total 75% undivided interest
in the project, by completing additional exploration expenditures
by January 1, 2022.
IAMGOLD has been conducting successive exploration campaigns on
the property which is underlain by Archean volcanic rocks of the
Obatogamau Formation and is targeting high grade gold
mineralization primarily along a 3-kilometre trend of the Monster
Lake Structural Corridor ("MLSC").
Qualified Persons
The technical information in this
news release was prepared under the supervision of, and reviewed
and verified by, Craig MacDougall,
P.Geo., Senior Vice President, Exploration for IAMGOLD. Mr.
MacDougall is a Qualified Person as defined by National Instrument
43-101.
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier
mining company with four operating gold mines on three continents.
A solid base of strategic assets in Canada, South
America and Africa is
complemented by development and exploration projects and continued
assessment of accretive acquisition opportunities. IAMGOLD is in a
strong financial position with extensive management and operational
expertise.
Please note:
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.
SOURCE IAMGOLD Corporation