IAMGOLD Corp (IAG) Gains Additional 3.1M Warrants for Galane Gold Common
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Price: $4.94 -5.73%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.2%
Revenue Growth %: -24.5%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.2%
Revenue Growth %: -24.5%
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IAMGOLD Corporation (NYSE: IAG) announced today that it has received an additional 3,112,525 warrants to purchase an equivalent number of common shares of Galane Gold Ltd. pursuant to that agreement by which Galane, indirectly, acquired ownership of the Mupane gold mine in Botswana, Africa from the Company, as originally announced by the Company on August 31, 2011.
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 (assuming the exercise of common share purchase warrants) 26,252,778 common shares of Galane maintains its approximate 49.9% interest in Galane's outstanding common shares (including common shares that would be outstanding upon exercise of the warrants held by IAMGOLD).
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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 (assuming the exercise of common share purchase warrants) 26,252,778 common shares of Galane maintains its approximate 49.9% interest in Galane's outstanding common shares (including common shares that would be outstanding upon exercise of the warrants held by IAMGOLD).
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