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IAMGOLD completes acquisition of Vanstar Resources

Feb 14, 2024

IAMGOLD Corporation is pleased to announce the successful completion of the previously announced transaction with Vanstar Mining Resources Inc., whereby IAMGOLD has acquired all of the issued and outstanding common shares of Vanstar pursuant to a court-approved plan of arrangement.

Pursuant to the Arrangement, former Vanstar shareholders received 0.2008 of an IAMGOLD common share (each whole common share of IAMGOLD, an "IAMGOLD Share") for each Vanstar Share. As a result of the Arrangement, IAMGOLD issued an aggregate of 11,989,406 IAMGOLD shares. 

With the acquisition of Vanstar complete, IAMGOLD now owns a 100% interest in the Nelligan Gold Project, located 60 kilometres southwest of Chibougamau, Quebec, Canada. In addition, IAMGOLD acquired a 1% NSR royalty on selected claims of Nelligan, as well as other earlier stage exploration properties in Northern Quebec. 

Trading of the Vanstar Shares on the TSX Venture Exchange (the “TSXV”) has been halted and will remain halted until the Vanstar Shares have been delisted from the TSXV, which is expected to be on February 15, 2024. The Vanstar Shares are also expected to be delisted from the OTCQX and the Frankfurt Stock Exchange. Following the delisting, Vanstar intends to submit an application to the applicable securities regulators in Canada to cease to be a reporting issuer. In connection with the Arrangement, IAMGOLD will file a report on its SEDAR+ profile at www.sedarplus.ca 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 Graeme Jennings, Vice President Investor Relations at IAMGOLD at (416) 360-4743.

Fasken Martineau Dumoulin LLP is acting as Canadian legal advisor to IAMGOLD in connection with the Arrangement. Paul Weiss Rifkind Wharton & Garrison LLP is acting as US legal advisor.


IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The Company is building the large-scale, long life Côté Gold project in Canada in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to commence production in early 2024. In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts in Canada. IAMGOLD employs approximately 3,600 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance practices, including its commitment to Zero Harm®, in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG) and is one of the companies on the Jantzi Social Index, a socially screened market capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and governance rating criteria.

Tags: Quebec / Deals & Financial / Gold / All Articles