27 March 2017
March 27, 2017
(All amounts expressed in United States dollars unless otherwise noted)
TORONTO, March 27, 2017 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle") announced today that it has agreed to issue and sell 5,003,412 common shares of Agnico Eagle (the "Common Shares") directly to an institutional investor in the United States at a price of US$43.97 per Common Share, for total consideration of approximately US$220 million (the "Offering"). The net proceeds of the Offering will be used for general corporate purposes. The Offering is expected to close on or about March 31, 2017, subject to stock exchange approval and the satisfaction of customary conditions.
The Common Shares were offered and are being sold directly by Agnico Eagle without an underwriter or placement agent. 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 Chief Executive Officer. "The offering also further enhances our financial flexibility as we build out our platform of high quality growth projects," added Mr. Boyd.