Iamgold Completes Acquisition of 100% of Merrex GOLD
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD COMPLETES ACQUISITION OF 100% OF MERREX GOLD
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario, February 28, 2017 - IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
reports that the Company has completed its previously announced acquisition (the “Transaction”) of all of
the issued and outstanding common shares of Merrex Gold Inc. (“Merrex”) not already owned by
IAMGOLD and all of the outstanding common share purchase warrants of Merrex by way of a court -
approved plan of arrangement under the Business Corporations Act (British Columbia). As a result of the
Transaction, Merrex is now a wholly-owned subsidiary of IAMGOLD.
"With the acquisition of Merrex, we now own 100% of the Siribaya -Diakha project in Mali and its gold
resource, which is estimated to be in excess of one million ounces as reported in our annual reserve and
resource news release of February 22, 2017", said President and CEO of IAMGOLD Steve Letwin. "This
transaction consummates eight years of excellent work and partnership with the Merrex team that led to
the discovery of the Diakha deposit. This project, along with the ongoing exploration and evaluation of
our nearby Boto Gold project in Senegal, gives us a significant footprint from which to advance our 2017
goal to expand our current resources in this prolific region of West Africa."
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier mining company with four operating gold mines on three
continents. A solid base of strategic assets in North and South America and West Africa is complemented
by development and exploration projects and continued assessment of accretive acq uisition
opportunities. IAMGOLD is in a strong financial position with extensive management and operational
expertise. IAMGOLD is incorporated under the Canada Business Corporations Act and its head office is
located at 401 Bay Street, Suite 3200, PO Box 153, Toronto, Ontario, M5H 2Y4.
About Merrex
Merrex's primary assets are its gold properties in West Mali, principally its 50% interest in the Siribaya
Gold Project, its 100% held Karita exploration authorization in Guinea and its 100% held zinc -lead
property in Nova Scotia (the Jubilee Project). Merrex holds permits totaling approximately 700 square
kilometers within an approximately 4,100 square kilometers area of interest in the southern portion of the
West Mali Gold Belt. The head office of Merrex is currently located at 802 - 1550 Bedford Highway.
Halifax, NS, B4A 1E6 and is expected to be moved to 401 Bay Street, Suite 3200, PO Box 153, Toronto,
Ontario, M5H 2Y4.
Additional Information
In connection with the Transaction, IAMGOLD issued an aggregate of approximately 6.9 million common
shares, amounting to 1.5% of its issued and outstanding shares immediately prior to completion of the
Transaction. The IAMGOLD shares were issued on the basis of 0.0433 of an IAMGOLD common share
for each Merrex common share not already owned by IAMGOLD and 0.0043 of an IAMGOLD common
share for each Merrex warrant. Immediately prior to the completion of the Transaction, IAMGOLD owned
approximately 45.8 million common shares of Merrex, which represented approximately 23% of Merrex’s
issued and outstanding common shares. It is expected that the Merrex shares will be de -listed from the
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TSX Venture Exchange and that Merrex will make an application to cease to be a reporting issuer in the
applicable jurisdictions. In connection with the Transaction, IAMGOLD will file a report on its profile on
SEDAR (www.sedar.com) pursuant to National Instrument 62-103 – The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues containing additional information respecting the
foregoing matters. A copy of such report may be obtained by contacting Bob Tait, VP Investor Relations
at IAMGOLD at (416) 360-4743.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements. All statements, other than of historical fact, that
address activities, events or developments that the Company believes, expects or anticipates will or may
occur in the future are forward-looking statements. Forward-looking statements are generally identifiable
by use of the words “will”, “should”, “would”, “estimate”, “believe”, “suggest”, “plan” or “project” or the
negative of these words or other variations on these words or comparable terminology. Forward -looking
statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s
ability to control or predict, that may cause the actual results of the Company to differ materially from
those discussed in the forward-looking statements. Factors that could cause actual results or events to
differ materially from current expectations include, among other things, without limitation, failure to meet
expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and
exploration expenditures and failure to establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's expectations, changes in world gold markets
and other risks disclosed in IAMGOLD’s most recent Form 40-F/Annual Information Form on file with the
United States Securities and Exchange Commission and Canadian provincial securities regulatory
authorities. Any forward-looking statement speaks only as of the date on which it is made and, except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to update
any forward-looking statement.
For further information please contact:
Bob Tait, VP Investor Relations, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (647) 403-5520
Laura Young, Director, Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815
Shae Frosst, Investor Relations Associate, IAMGOLD Corporation
Tel: (416) 933-4738 Mobile: (647) 967-9942
Toll-free: 1-888-464-9999 [email protected]
Please note:
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/accueil/default.aspx.