logo
Share SHARE
FONT-SIZE Plus   Neg

Iamgold Receives Additional Warrants In Galane Gold - Quick Facts

Iamgold Corp. (IAG, IMG.TO) announced that it has received an additional 3.11 million warrants to purchase an equivalent number of common shares of Galane Gold Ltd. (GG.V) pursuant to that agreement by which Galane, indirectly, acquired ownership of the Mupane gold mine in Botswana, Africa from Iamgold.

The receipt of these additional warrants was contemplated in the original agreement upon Galane's completion of its acquisition of Northern Lights Exploration Company Pty. Ltd.

IAMGOLD's ownership of 26.25 million common shares of Galane maintains its approximate 49.9% interest in Galane's outstanding common shares.

Iamgold noted that the warrants to purchase common shares of Galane received today by the company are for investment purposes. Iamgold said it does not have any present intention to acquire ownership of, or control or direction over, additional securities of Galane.

Iamgold said that its the intention is to evaluate its investment in Galane on a continuing basis and such holdings may be increased or decreased in the future.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
About nine-tenths of the world's sea birds are likely to have consumed pieces of plastic which continue to remain in their guts, a study shows. Automakers reported some mixed U.S. sales for August, marked by fewer working days and a delayed Labor Day, even as the month was largely bullish, spurred by lower interest rates, cheaper gas, and some strong employment data that buoyed consumer confidence. Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents.
comments powered by Disqus
RELATED NEWS
Trade IAG now with 
Follow RTT