Mines D'Or Orbec Announces Filing and Mailing of its Management Information Circular in Connection with the Special Meeting of Securityholders to Approve the Acquisition by IAMGOLD

The most recent news release dated 2025-11-18 states that Mines D'Or Orbec Inc. has filed and mailed its Management Information Circular for a Special Meeting of Securityholders. This meeting, scheduled for 2025-12-15 at 10:00 AM (Toronto time), is to approve the plan of arrangement for the acquisition of Orbec by IAMGOLD Corporation. The Arrangement Resolution requires approval by 66.67% of shareholders. Directors, officers, and certain shareholders holding 32,185,364 shares (approximately 29.6% of outstanding shares) have already entered into support agreements to vote in favor of the transaction. The acquisition, announced on 2025-10-19, proposes a total consideration of $0.125 per Orbec share, consisting of $0.0625 in cash and 0.003466 IAMGOLD common shares. The expected closing date for the acquisition is 2025-12-19, subject to securityholder, court, and regulatory approvals. As part of the arrangement, a $500,000 convertible debenture from IAMGOLD to Orbec has been closed.

This news is a procedural update regarding the previously announced acquisition of Mines D'Or Orbec by IAMGOLD Corporation. The definitive agreement for the acquisition was a material positive event, as it provided a clear exit strategy for Orbec shareholders at a significant premium (25% to the Orbec share price prior to the announcement) and included a cash component plus shares in a larger gold producer. The current news, detailing the filing and mailing of the information circular and the scheduling of the securityholder meeting, is a standard and expected step in finalizing such a transaction. It confirms that the process is moving forward as planned towards the anticipated closing date in December 2025. There is no new information presented that would materially alter the value proposition of the acquisition or introduce unexpected risks or benefits. The significant support from insiders (29.6%) for the transaction further de-risks the shareholder approval step. Therefore, this is a routine, neutral development that maintains the course towards the acquisition's completion.

Mines D'Or Orbec Inc. (formerly Blue Thunder Mining Inc.) is a Canadian gold exploration company focused on its 100%-owned Muus Property in the Chibougamau region of Quebec, within the Abitibi Greenstone Belt. The Muus Property spans approximately 25,250 hectares and is strategically located adjacent to and on strike with IAMGOLD's multi-million-ounce Nelligan gold project (indicated mineral resource of 3.1 million ounces at 0.95 g/t Au and an inferred mineral resource of 5.1 million ounces at 0.96 g/t Au as of Dec 31, 2024).

The company's primary focus has been on advancing the Muus Project, leveraging high-resolution magnetic surveys and initial drill campaigns to identify Nelligan-style gold mineralization. Early drilling at the Lac Bernard Sud area showed promising, albeit low-grade, gold-bearing mineralization with geological similarities to Nelligan, characterized by deformed metasedimentary rocks, silicification, and sulfide minerals.

Mines D'Or Orbec has also explored the potential for copper-gold volcanogenic massive sulfide (VMS) mineralization and high-grade gold mineralization similar to IAMGOLD's Monster Lake deposit, also in the vicinity. IAMGOLD Corporation has been a strategic technical collaborator and a significant shareholder (approximately 8.3% prior to the acquisition agreement).

The company's exploration efforts culminated in an agreement to be acquired by IAMGOLD Corporation, which aims to consolidate its land position in the highly prospective Chibougamau district.