IAMGOLD Corp. (IMG.TO: Quote,IAG: Quote) said Thursday it has completed the acquisition of all issued and outstanding shares of Trelawney Mining and Exploration Inc. (TRR.V: Quote) through a plan of arrangement.
Under the terms of the Transaction, former shareholders of Trelawney are entitled to $3.30 in cash for each common share of Trelawney held. It is expected that the common shares of Trelawney will be delisted from the TSX Venture Exchange on or about June 25, 2012 . The main asset acquired in this transaction is the Côté Lake Project located adjacent to the Swayze Greenstone Belt in northern Ontario, Canada.
On February 24, 2012 , Trelawney announced an updated mineral resource estimate for Côté Lake, comprising 35 million tonnes at 0.82 g/t gold for 0.93 million ounces of indicated resources and 204 million tonnes at 0.91 g/t gold for 5.94 million ounces of inferred resources.
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by RTT Staff Writer
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