logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT