IAMGOLD drops on deal to buy Vanstar for $31 mln

Vanstar Mining Resources

05/12/2023 16:14

** Canadian miner IAMGOLD's shares  IMG.TO  fall 4.99% to
C$3.24
    ** Co to buy Canadian gold exploration firm Vanstar
Resources  VSR.V  in a $31.1 mln deal
    ** Vanstar shareholders to receive 0.2008 of an IMG share
for per share owned  
     ** IMG says Vanstar deal consolidates interests in Nelligan
deposit in Quebec
    ** Deal expected to close by Q1 2024
    ** Shares of Vanstar up 40.66% at C$0.64
    ** IMG stock has fallen 6.63% YTD, while VSR stock has risen
109.84% YTD
($1 = 1.3562 Canadian dollars)

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))