Exhibit 99.1
IAMGOLD CORPORATION 220 Bay Street, 5th Floor, Toronto ON M5J 2W4 Canada Telephone: (416) 360-4710, Fax: (416) 360-4750, Toll Free 1-888-IMG-9999 website: www.iamgold.coml E-mail: info@iamgold.com |
TSX Trading Symbol: AMEX Trading Symbol: Total Shares Outstanding: Fully Diluted: 52-Week Trading Range: | IMG IAG 145.5MM 151.5MM Cdn$5.75 - $10.99 |
FOR IMMEDIATE RELEASE: July 2, 2004 | No. 21/04 |
FAIRVEST, CANADA’S LEADING INDEPENDENT PROXY
ADVISORY FIRM RECOMMENDS IAMGOLD
SHAREHOLDERS VOTE IN FAVOUR OF WHEATON RIVER TRANSACTION
Toronto, Ontario: July 2, 2004 —IAMGOLD Corporation is pleased to advise its shareholders that Fairvest*, Canada's leading independent proxy advisory firm and an affiliate of Institutional Shareholder Services (ISS), yesterday reconfirmed its earlier decision recommending that IAMGOLD shareholdersvote IN FAVOUR of the proposed business combination between IAMGOLD and Wheaton River Minerals Ltd.Fairvest/ISS is also recommending that shareholdersDO NOT VOTE on the Golden Star dissident green proxy form.
In its decision, Fairvest thoroughly reviewed the IAMGOLD - Wheaton River Minerals Ltd. (“Wheaton”) transaction and the revised offer by Golden Star Resources with respect to accretion/dilution to IAMGOLD shareholders, premiums/discounts and trading prices, production and cash costs and the growth profile and risk profiles of the two alternative transactions.Fairvest has decided to maintain its earlier recommendation that shareholdersVOTE IN FAVOUR of the proposed IAMGOLD - Wheaton transaction and all other resolutions put forward in the upcoming meeting of IAMGOLD shareholders.
Joseph Conway, President and CEO of IAMGOLD commented on the Fairvest recommendation stating: “IAMGOLD continues to appreciate the support of Fairvest as an unbiased investment advisor and its recognition of the value to IAMGOLD shareholders of the IAMGOLD - Wheaton transaction. This support is particularly significant in-light of the opportunistic and highly conditional bid by Golden Star. We look forward to the shareholder meeting on Tuesday July 6th, at which our shareholders will finally have a chance to vote on the transaction.”
* Permission to disclose the Fairvest recommendation was neither sought nor obtained.
Cautionary Statements
For further information please contact:
IAMGOLD Corporation:
Joseph F. Conway | or | Tom Atkins |
President & Chief Executive Officer | Vice President, Investor Relations | |
Tel: (416) 360 4710 | Fax: (416) 360 4750 | Toll-free: 1 888 IMG 9999 |
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Canada Newswire's website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.