Stock Symbol: AEM (NYSE and TSX)
TORONTO, June 24,
2024 /CNW/ - Agnico Eagle Mines Limited (NYSE:
AEM) (TSX: AEM) ("Agnico Eagle") announced today that it
acquired 33,821,842 common shares ("Common Shares") of Maple Gold
Mines Ltd. (TSXV: MGM) ("Maple") on June 21,
2024 at a price of $0.085 per
Common Share for total consideration of approximately $2,874,856.57 from several sellers that acquired
the Common Shares in connection with an offering of flow-through
Common Shares issued by Maple (the "Share Purchase").
Prior to the Share Purchase, Agnico Eagle owned 40,852,415
Common Shares, representing approximately 11.97% of the issued and
outstanding Common Shares on a non-diluted basis. Following the
Share Purchase, Agnico Eagle owns 74,674,257 Common Shares,
representing approximately 19.9% of the issued and outstanding
Common Shares on a non-diluted basis.
Agnico Eagle and Maple entered into an investor rights agreement
dated October 13, 2020, pursuant to
which Agnico Eagle is entitled to certain rights, provided Agnico
Eagle maintains certain ownership thresholds in Maple, including:
(a) the right to participate in equity financings in order to
maintain its pro rata ownership in Maple at the time of such
financing or acquire up to a 19.90% ownership interest in Maple;
and (b) the right (which Agnico Eagle has no present intention of
exercising) to nominate one person (and in the case of an increase
in the size of the board of directors of Maple to eight or more
directors, two persons) to the board of directors of Maple.
Agnico Eagle acquired the Common Shares for investment purposes.
Depending on market conditions and other factors, Agnico Eagle may,
from time to time, acquire additional Common Shares or other
securities of Maple or dispose of some or all of the Common Shares
or other securities of Maple that it owns at such time.
Agnico Eagle and Maple entered into a conveyance and option
agreement dated June 20, 2024 (the
"Conveyance and Option Agreement"), pursuant to which, subject to
the satisfaction of certain closing conditions: (a) the existing
joint venture agreement dated February 2,
2021 between, among others, Agnico Eagle and Maple will be
terminated; (b) Maple will obtain a 100% ownership interest in the
Douay Gold Project and Joutel Gold Project (the "Projects"); (c)
Maple will grant Agnico Eagle a 1.0% net smelter return royalty in
respect of the Projects; and (d) Agnico Eagle will retain certain
options to acquire a 50% ownership interest in the Projects.
An amended early warning report will be filed by Agnico Eagle in
accordance with applicable securities laws. To obtain a copy of the
early warning report, please contact:
Agnico Eagle Mines Limited
c/o Investor Relations
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com
Agnico Eagle's head office is located at 145 King Street East,
Suite 400, Toronto, Ontario M5C
2Y7. Maple's head office is located at 1111 West Hasting Street,
6th Floor Vancouver, British
Columbia V6E 2J3.
About Agnico Eagle
Agnico Eagle is a Canadian based and led senior gold mining
company and the third largest gold producer in the world, producing
precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality
exploration and development projects in these countries as well as
in the United States. Agnico Eagle
is a partner of choice within the mining industry, recognized
globally for its leading environmental, social and governance
practices. Agnico Eagle was founded in 1957 and has consistently
created value for its shareholders, declaring a cash dividend every
year since 1983.
Forward-Looking Statements
The information in this news release has been prepared as at
June 24, 2024. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" under the provisions
of Canadian provincial securities laws. These statements can
be identified by the use of words such as "may", "will" or similar
terms.
Forward-looking statements in this news release include, without
limitation, statements relating to Agnico Eagle's acquisition or
disposition of securities of Maple in the future and the closing of
the transactions contemplated in the Conveyance and Option
Agreement and any rights exercisable by Agnico Eagle
thereunder.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, while considered reasonable by
Agnico Eagle as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and
unknown, could cause actual results to be materially different from
those expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date made. Other than as required by law, Agnico Eagle does
not intend, and does not assume any obligation, to update these
forward-looking statements.
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SOURCE Agnico Eagle Mines Limited