From the Wires
IAMGOLD Indirectly Acquires Additional Shares in Eagle Mountain
By: PR Newswire
Feb. 12, 2013 05:11 PM
All amounts are expressed in Canadian dollars.
TSX: IMG NYSE: IAG
TORONTO, Feb. 12, 2013 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced that it has indirectly received, through its 95% owned subsidiary, 3,236,246 common shares of Eagle Mountain Gold Corp. ("EMGC"), formerly Stronghold Metals Inc., (TSX-V: Z). The shares were received, on a prospectus exempt basis, as consideration under an earn-in agreement with EMGC for the remaining 50% interest in the Eagle Mountain exploration concession in Guyana.
IAMGOLD now indirectly owns, through its 95% owned subsidiary, 5,536,246 common shares of EMGC, or approximately 14.93% of the outstanding common shares.
The common shares of EMGC indirectly acquired today by IAMGOLD were acquired for investment purposes. IAMGOLD does not have any present intention to acquire, indirectly or directly, ownership of, or control or direction over additional securities of EMGC. It is the intention of IAMGOLD to evaluate its investment in EMGC on a continuing basis and such holdings may be, indirectly or directly, increased or decreased in the future.
Forward Looking Statement
IAMGOLD (www.iamgold.com) is a leading mid-tier gold producer with five operating gold mines (including current joint ventures) on three continents. In the Canadian province of Québec, the Company also operates Niobec Inc., one of the world's top three producers of niobium, and owns a rare earth element resource close to its niobium mine. IAMGOLD is well positioned for growth with a strong financial position and extensive management and operational expertise. To grow from this strong base, IAMGOLD has a pipeline of development and exploration projects and continues to assess accretive acquisition opportunities. IAMGOLD's growth plans are strategically focused in certain regions in Canada, select countries in South America and Africa.
This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through CNW Group's website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué, veuillez consulter le http://www.iamgold.com/French/Home/default.aspx.
SOURCE IAMGOLD Corporation
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