Supports Dundee Precious Metals’ Proposed Acquisition Of INV Metals
IAMGOLD Corporation (TSX: IMG) has entered into a voting and support agreement with Dundee Precious Metals Inc. (DPM) pursuant to which it has agreed to vote all of its common shares of INV Metals Inc. in favour of DPM’s proposed acquisition of INV by way of a plan of arrangement.
Under the terms of the arrangement agreement dated May 30, 2021, holders of Common Shares will receive 0.0910 common shares of DPM in exchange for each Common Share. IAMGOLD beneficially owns and has control or direction over 53,331,158 Common Shares, representing approximately 35.5% of the total issued and outstanding Common Shares.
The Support Agreement may be terminated by the mutual agreement in writing of DPM and IAMGOLD. The Support Agreement will also terminate and be of no further force or effect in certain circumstances, including in the event that the Arrangement Agreement is terminated by INV in order to accept a superior proposal.
If the Transaction does not proceed and/or the Support Agreement is terminated, depending on market conditions, general economic and industry conditions, trading prices of INV’s securities, INV’s business, financial condition and prospects and/or other relevant factors, IAMGOLD may from time to time acquire additional Common Shares, dispose of some or all of its Common Shares or continue to hold Common Shares or other securities of INV.
IAMGOLD is a mid-tier gold mining company operating in three regions globally: North America, South America and West Africa. Within these regions the Company is developing high potential mining districts that encompass operating mines, construction, development, and exploration projects.
The company’s operating mines include Westwood in Canada, Rosebel (including Saramacca) in Suriname and Essakane in Burkina Faso. A solid base of strategic assets is complemented by the Côté Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.
IAMGOLD employs approximately 5,000 people.
