IAMGOLD Announces Closing of Cdn$345,143,750 Equity Financing
March 26 2009 - 9:47AM
Marketwired
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD)
announced today that it has completed its previously announced
overnight marketed public offering of common shares of IAMGOLD
Corporation (the "Offering") at a price of Cdn$8.75 per common
share. Including the common shares issued on the exercise of the
over-allotment option, IAMGOLD issued 39,445,000 common shares for
aggregate gross proceeds of Cdn$345,143,750.
The underwriting syndicate was led by Canaccord Capital
Corporation and TD Securities Inc. and included CIBC World Markets
Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd.,
Scotia Capital Inc., UBS Securities Canada Inc., Cormark Securities
Inc., National Bank Financial Inc., Paradigm Capital Inc., RBC
Capital Markets, Thomas Weisel Partners Canada, Inc., Dundee
Securities Corporation, Genuity Capital Markets, Goldman Sachs
Canada Inc., and Salman Partners Inc. (collectively, the
"Underwriters").
Approximately $250 million of the net proceeds from the Offering
are expected to be used to fund the construction and development of
the Essakane Project and the balance is expected to fund capital
expenditures at IAMGOLD's other properties and be used for general
corporate purposes including future acquisition opportunities.
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
anticipated use of proceeds. These statements are based upon the
assumptions 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 United States
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. All material information on
IAMGOLD can be found at www.sedar.com or at www.sec.gov.
Si vous desirez obtenir la version francaise de ce communique,
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 eellingham@iamgold.com www.iamgold.com
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