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IAMGOLD acquires the Fayolle property from Monarch Gold for C$11.5 million

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Overview

Client

IAMGOLD Corporation

On June 1, 2020, Monarch Gold Corporation announced that it has entered into an agreement for the sale of the Fayolle Property to IAMGOLD Corporation for a total of $11.5 Million. IAMGOLD will pay Monarch this amount through the issuance of common shares of IAMGOLD for a total value of $9.7 million, a $0.3 million cash payment upon transfer of ownership of a parcel of land to IAMGOLD and a $1.5 million cash payment 90 days after the initial transport of ore from the Fayolle deposit.

This transaction allows IAMGOLD to invest in a project that has gold potential while Monarch focuses on other priority projects.

A Fasken team including Frank Mariage, Youssef Fichtali, Jean-Philippe Côté, Alexandre Morin, Carole Gélinas, Nathalie Lauzier, Jacque Eddé and Antoine Aylwin acted for IAMGOLD in connection with this acquisition.

Jurisdiction

  • Québec

Team

  • Frank Mariage, Partner | Corporate/Commercial, Montréal, QC, +1 514 397 7540, [email protected]
  • Jean-Philippe Côté, Partner | Corporate/Commercial, Montréal, QC, +1 514 397 5178, [email protected]
  • Nathalie Lauzier, Paralegal/Law Clerk | Real Estate Law, Montréal, QC, +1 514 397 7589, [email protected]
  • Jacques Eddé, Partner | Real Estate Law, Montréal, QC, +1 514 397 5173, [email protected]
Frank Mariage Associé/Partner Montréal Frank Mariage Partner | Corporate/Commercial Montréal, QC +1 514 397 7540
Jean-Philippe Côté | Corporate/Commercial lawyer in Montréal Jean-Philippe Côté Partner | Corporate/Commercial Montréal, QC +1 514 397 5178
Nathalie Lauzier Paralegal in Montréal Nathalie Lauzier Paralegal/Law Clerk | Real Estate Law Montréal, QC +1 514 397 7589
Jacques Edde Montréal Lawyer/Avocat Jacques Eddé Partner | Real Estate Law Montréal, QC +1 514 397 5173

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