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Message: Announces Closing of Cdn$345,143,750 Equity Financing

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Announces Closing of Cdn$345,143,750 Equity Financing

posted on Mar 26, 09 02:24PM

March 26, 2009

IAMGOLD Announces Closing of Cdn$345,143,750 Equity Financing

TORONTO, ONTARIO--(Marketwire - March 26, 2009) - IAMGOLD Corporation (TSX:IMG)(NYSE:IAG)(BOTSWANA:IAMGOLD) announced today that it has completed its previously announced overnight marketed public offering of common shares of IAMGOLD Corporation (the "Offering") at a price of Cdn$8.75 per common share. Including the common shares issued on the exercise of the over-allotment option, IAMGOLD issued 39,445,000 common shares for aggregate gross proceeds of Cdn$345,143,750.

The underwriting syndicate was led by Canaccord Capital Corporation and TD Securities Inc. and included CIBC World Markets Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Scotia Capital Inc., UBS Securities Canada Inc., Cormark Securities Inc., National Bank Financial Inc., Paradigm Capital Inc., RBC Capital Markets, Thomas Weisel Partners Canada, Inc., Dundee Securities Corporation, Genuity Capital Markets, Goldman Sachs Canada Inc., and Salman Partners Inc. (collectively, the "Underwriters").

Approximately $250 million of the net proceeds from the Offering are expected to be used to fund the construction and development of the Essakane Project and the balance is expected to fund capital expenditures at IAMGOLD's other properties and be used for general corporate purposes including future acquisition opportunities.

ABOUT IAMGOLD

IAMGOLD is a leading mid-tier gold mining company producing almost one million ounces annually from 8 mines on 3 continents. IAMGOLD is focused on growth with a target to reach 1.8 million ounces gold production by 2012. IAMGOLD is uniquely positioned with a strong financial base, together with the management and operations expertise to execute our aggressive growth objectives. IAMGOLD is focused in West Africa, the Guiana Shield of South America and Quebec where it has a pipeline of development and exploration projects, while it continues to assess accretive acquisition opportunities with a strategic fit. IAMGOLD is listed on the Toronto Stock Exchange ("IMG"), the New York Stock Exchange ("IAG") and the Botswana Stock Exchange ("IAMGOLD").

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