IAMGOLD Corporation Announces Cdn$275 Million Equity Financing
March 09 2009 - 4:28PM
Marketwired
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD)
announced today that it has filed a preliminary short form
prospectus in Canada and a registration statement in the United
States in connection with an overnight-marketed public offering of
common shares to raise approximately Cdn$275,000,000 (the
"Offering"). The Offering will be conducted through a syndicate of
underwriters led by Canaccord Capital Corporation and TD Securities
Inc. (collectively, the "Underwriters"). In addition, the Company
has agreed to grant the Underwriters an over-allotment option to
purchase that number of additional common shares of IAMGOLD equal
to 15% of the common shares sold pursuant to the Offering,
exercisable at any time, in whole or in part, up to 30 days from
the closing of the Offering (the "Over-Allotment Option"). If the
Over-Allotment Option is exercised in full, the total gross
proceeds to IAMGOLD will be approximately Cdn$316,250,000.
The Offering will be priced in the context of the market with
the final terms of the Offering to be determined at the time of
pricing. The net proceeds from the Offering are expected to be used
to fund the construction and development of the Essakane Project
(replacing all or substantially all of the previously proposed
Essakane project debt facility and related gold hedging
requirements) and the balance to fund capital expenditures at
IAMGOLD's other properties and for general corporate purposes
including future acquisition opportunities.
The common shares of IAMGOLD are being offered by way of a short
form prospectus in all of the provinces and territories of Canada,
except Quebec, will be registered in the United States pursuant to
a registration statement filed under the multi-jurisdictional
disclosure system and may also be offered on a private placement
basis in certain jurisdictions outside of Canada and the United
States pursuant to applicable prospectus exemptions.
A registration statement under the multi-jurisdictional
disclosure system adopted by the United States and Canada has been
filed with the United States Securities and Exchange Commission,
but has not yet become effective. These securities may not be sold
nor may offers to buy be accepted prior to the time the
registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these common shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration of
qualification under the securities laws of any such
jurisdiction.
The Offering is scheduled to close on or about March 26, 2009
and is subject to certain customary conditions and regulatory
approvals, including the approval of the Toronto Stock Exchange and
the New York Stock Exchange. A copy of the preliminary prospectus
may be obtained from Amy Patel at Canaccord Capital Corporation,
161 Bay Street, Suite 3000, Toronto, Ontario, M5J 2S1,
1-800-663-1899 or Paula Kourian at TD Securities Inc., 31 West 52nd
Street, 20th Floor, New York, NY 10019-6101, 1-212-827-7316. A copy
may also be obtained by visiting SEDAR at http://www.sedar.com/ or
the SEC's website at http://www.sec.gov/.
ABOUT IAMGOLD
IAMGOLD is a leading mid-tier gold mining company producing
almost one million ounces annually from 8 mines on 3 continents.
IAMGOLD is focused on growth with a target to reach 1.8 million
ounces gold production by 2012. IAMGOLD is uniquely positioned with
a strong financial base, together with the management and
operations expertise to execute our aggressive growth objectives.
IAMGOLD is focused in West Africa, the Guiana Shield of South
America and Quebec where it has a pipeline of development and
exploration projects, while it continues to assess accretive
acquisition opportunities with a strategic fit. IAMGOLD is listed
on the Toronto Stock Exchange ("IMG"), the New York Stock Exchange
("IAG") and the Botswana Stock Exchange ("IAMGOLD").
Forward Looking Statement
This press release contains forward-looking statements regarding
IAMGOLD and the offering referred to herein, including the expected
closing date and anticipated use of proceeds. These statements are
based upon the assumptions that the offering will be successfully
completed on the terms described above, and that the proceeds of
the offering can successfully be used as described above. All
statements, other than of historical fact, that address activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements regarding the estimation of mineral
resources, exploration results, potential mineralization, potential
mineral resources and mineral reserves) are forward-looking
statements. Forward-looking statements are subject to a number of
risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the
forward-looking statements. Factors that could cause actual results
or events to differ materially from current expectations include,
among other things, risks relating to market conditions, global
political uncertainties, investor demand and the timing of the
offering, failure to establish estimated mineral resources, the
possibility that future exploration results will not be consistent
with the Company's expectations, changes in world gold markets and
other risks disclosed in IAMGOLD's most recent Form 40-F/Annual
Information Form on file with the US Securities and Exchange
Commission and Canadian provincial securities regulatory
authorities. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement.
Please note:
This entire press release may be accessed via fax, e-mail,
IAMGOLD's website at www.iamgold.com and through Marketwire's
website at www.marketwire.com. All material information on IAMGOLD
can be found at www.sedar.com or at www.sec.gov.
Si vous dï¿1/2sirez obtenir la version franï¿1/2aise de ce
communiquï¿1/2, veuillez consulter le
http://www.iamgold.com/fr/accueil.html.
Contacts: IAMGOLD Corporation Elaine Ellingham SVP, Investor
Relations & Communications (416) 360-4712 or Toll-Free:
1-888-464-9999 Email: info@iamgold.com Website: www.iamgold.com
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