Ontario Superior Court of Justice Grants Final Order to Mines D'Or Orbec Inc. Approving Acquisition by IAMGOLD Corporation

The most recent news (December 18, 2025) confirms that the Ontario Superior Court of Justice has granted the Final Order approving the acquisition of Mines D'Or Orbec Inc. ("Orbec") by IAMGOLD Corporation (IAG). This follows an overwhelming shareholder approval on December 15, 2025, where 99.96% of votes cast were in favor of the transaction. The deal is structured as a Plan of Arrangement. Under the terms, Orbec shareholders (excluding IAMGOLD) will receive C$0.0625 in cash and 0.003466 of an IAMGOLD common share for each Orbec share held. The transaction is expected to close on or about December 22, 2025.

The impact is definitively Material - Positive for Orbec shareholders. The acquisition provides an immediate liquidity event and a significant premium (initially 25% at announcement) for a junior exploration company that was facing severe capital constraints. - Liquidity and Survival: Prior to the deal, Orbec's Q3 2025 financials showed a cash position of just $72,865 and a working capital deficiency. Without this acquisition or a major dilutive financing, the company's ability to continue as a going concern was in doubt. - Asset Consolidation: For IAMGOLD, this consolidates the Muus Project, which is adjacent to their Nelligan and Monster Lake deposits. - Warrant and Option Treatment: In-the-money options and warrants (those with exercise prices below $0.125) will be cancelled in exchange for a cash payment equal to the spread. Out-of-the-money instruments will be cancelled for no consideration.

Mines D'Or Orbec Inc. (formerly Blue Thunder Mining) is a Quebec-based gold explorer. Its flagship Muus Project covers approximately 25,250 hectares in the Chibougamau gold district. The project is strategically located along the Guercheville Deformation Zone, which also hosts IAMGOLD's Nelligan deposit (indicated resource of 3.1M oz Au and inferred resource of 5.1M oz Au).