1 May 2024
TORONTO, May 1, 2024 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that further to its news release dated April 25, 2024, it has received approval from the Toronto Stock Exchange (the "TSX") of Agnico Eagle's notice of intention to renew its normal course issuer bid (the "NCIB").
Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 4, 2024 and ending on the earlier of May 3, 2025 and the completion of purchases under the NCIB, up to the lesser of: (i) 24,961,914 common shares of Agnico Eagle ("Common Shares"), which is 5% of the issued and outstanding Common Shares; and (ii) that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $500,000,000, subject to the normal terms and limitations of such bids. Based on the closing share price of $65.52 on April 26, 2024, 7,631,258 Common Shares would be purchasable under the NCIB, representing approximately 1.53% of the issued and outstanding Common Shares as of April 26, 2024. As of April 26, 2024, Agnico Eagle had 499,238,285 issued and outstanding Common Shares.