IAMGold to acquire Mines D’Or Orbec in C$17.2M transaction

IAMGOLD (IAG) announces the Company has signed a definitive arrangement agreement with Mines D’Or Orbec pursuant to which IAMGOLD has agreed to acquire all of the issued and outstanding common shares of Orbec by way of a court-approved plan of arrangement under the Business Corporations Act. The acquisition will consolidate IAMGOLD’s existing ownership of Orbec Shares through which the Company will add the highly prospective Muus Project, which is adjacent to the Company’s Nelligan and Monster Lake Projects in the Chibougamau region of Quebec, Canada. Pursuant to the Arrangement Agreement, Orbec shareholders will receive total consideration representing a value of C$0.125 per Orbec Share in a cash and shares transaction comprised of C$0.0625 per Orbec Share and 0.003466 of an IAMGOLD common share for each Orbec Share. This implies a total equity value based on fully diluted shares outstanding, net of IAMGOLD’s ownership, of C$17.2 million and represents a premium of approximately 25% to the closing price of the Orbec Shares on the TSX Venture Exchange as of market close on October 17, 2025. IAMGOLD currently owns 7.14 million Orbec Shares, representing approximately 6.70% of the Orbec Shares outstanding. Excluding IAMGOLD’s existing ownership of Orbec, IAMGOLD expects to issue approximately 369,341 IAMGOLD Shares.