Mines D'Or Orbec shareholders approve IAMGOLD acquisition

Mines D'Or Orbec Inc. shareholders approved the company's acquisition by IAMGOLD Corporation (NYSE: IAG) at a special meeting held December 15, 2025.

The special resolution received approval from 99.96% of shareholders present or represented by proxy. When voting together as a single class with optionholders and warrantholders, 99.97% approved the arrangement. A total of 58,372,757 votes were cast by shareholders, representing approximately 53.59% of all issued and outstanding shares.

Under the arrangement terms, each Orbec shareholder will receive consideration valued at $0.125 per share, consisting of 0.003466 IAMGOLD common shares and $0.0625 in cash per Orbec share. In-the-money stock options and warrants will be cancelled in exchange for cash payments equal to the difference between their exercise price and $0.125, multiplied by the number of shares they represent.

Orbec will seek final court approval from the Ontario Superior Court of Justice at a hearing expected around December 18, 2025. The transaction is expected to close approximately December 22, 2025, subject to satisfying all conditions in the October 19, 2025 arrangement agreement.

Mines D'Or Orbec owns mineral claims covering approximately 25,250 hectares near Chibougamau, Quebec. The company's Muus Project is located adjacent to IAMGOLD's Nelligan Gold Project. IAMGOLD currently owns approximately 9.9% of Orbec.

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