logo
Share SHARE
FONT-SIZE Plus   Neg

Iamgold Receives Additional Warrants In Galane Gold - Quick Facts

Iamgold Corp. (IAG: Quote, 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: Quote) 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

Editors Pick
Internet giant Google Inc. (GOOGL, GOOG) has launched a new online flight search tool that makes it easy to find out the best flight deal. The tool dubbed "Google Flights" provides a calendar that one can scroll through and see the lowest fare highlighted for each day. One can also use the lowest... Hyperloop Transportation Technologies, a start-up that has adopted Elon Musk's ambitious project of high-speed transportation system, plans to build a Hyperloop test track in California and completed as early as 2016. Hyperloop Test Technologies, a crowd-funded company, plans to take Musk's dream... Colors have set the social media afire after an otherwise innocuous photo of a bodycon dress kept users guessing as to what hues permeate it. Opinions are divided, with some seeing the dress as white and gold, and others as blue and black. The photo was posted on Tumblr by a user called Swiked.
comments powered by Disqus
RELATED NEWS
Trade IAG now with 
Follow RTT