Toronto (pcJ News Briefs) – Agnico Eagle Mines Limited (TSX/NYSE: AEM) has agreed to issue and sell 5,003,412 common shares of Agnico Eagle directly to an unnamed institutional investor in the United States at a price of US $43.97 per share, for total consideration of approximately US $220 million.
The offering is expected to close on or about March 31, 2017. Proceeds will be used for general corporate purposes.
Following the closing, the new investor will own 2.17% of Agnico outstanding shares on non-diluted basis.
Maxit Capital LP and Sprott Capital Partners are acting as financial advisors to Agnico Eagle in connection with the offering.
“Agnico Eagle is pleased to welcome an important new strategic institutional investor to our share register, and we look forward to continuing to develop this relationship over time,” said Sean Boyd, Agnico Eagle’s CEO. “The offering also further enhances our financial flexibility as we build out our platform of high quality growth projects.”
Agnico Eagle Mines is a senior Canadian gold mining company that has produced precious metals since 1957. Its eight mines are located in Canada, Finland and Mexico, with exploration and development activities in each of these countries as well as in the United States and Sweden.
photo credit: Agnico Eagle Mines