IAMGOLD (TSE:IMG) has released an update.
IAMGOLD Corporation has announced a US$300 million financing deal through a bought deal of 72 million common shares at US$4.17 each, potentially increasing to US$345 million if over-allotments are exercised. The proceeds are earmarked for the repurchase of a 9.7% interest in the Côté Gold Mine, with the aim of restoring IAMGOLD’s ownership to 70%. This strategic financial move is anticipated to bolster the company’s economic benefits from the mine.
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