Each unit is comprised of one common share and one-half of a common share purchase warrant, with each warrant entitling IAMGOLD to buy one common share for $0.65 for up to 36 months from the date of issuance.
The company said its ownership of the 11 million common shares of Bellhaven represents about 10.4% of the outstanding common shares.
If IAMGOLD were to exercise the 5.5 million common share purchase warrants, it would own 16.5 million common shares of Bellhaven, or about 14.8% of the outstanding common shares.
The common shares and warrants to buy common shares of Bellhaven acquired by IAMGOLD were acquired for investment purposes.
IAMGOLD said it does not have any present plan to acquire ownership of, or control or direction over, additional securities of Bellhaven.
The company intends to evaluate its investment in Bellhaven on a continuing basis, and such holdings may be increased or decreased in the future.
