IAMGOLD (TSE:IMG) has released an update.
IAMGOLD Corporation successfully closed a ‘bought deal’ equity financing, raising $300.24 million through the issuance of 72 million common shares at $4.17 each. The proceeds are earmarked for repurchasing a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining, aiming to restore IAMGOLD’s 70% stake in the mine. The funds will be responsibly managed, either in an interest-bearing account or for repaying credit, until the transaction is completed by year-end.
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