8 January 2021
TMAC Resources Inc. is pleased to update the market on its transaction with Agnico Eagle Mines Limited (“Agnico Eagle”) and provide notice to its shareholders of the hearing scheduled to consider the Agnico Final Order (as defined below).
As announced on January 5, 2021, TMAC and Agnico Eagle agreed that Agnico Eagle will acquire all of the issued and outstanding common shares of TMAC at an all-cash price of C$2.20 per share (the “Transaction”). The Transaction is being effected by way of assignment to Agnico Eagle of the arrangement agreement between TMAC and Shandong Gold Mining Co., Ltd. and its affiliate dated May 8, 2020 (the “Arrangement Agreement”). The plan of arrangement contemplated by the Arrangement Agreement was approved by TMAC shareholders on June 26, 2020 and by the Ontario Superior Court of Justice (Commercial List) (the “Court”) by final order (the “Final Order”) on June 30, 2020. An application will be made to the Court to amend the Final Order and shareholders are entitled to appear at the hearing scheduled to consider the application on January 20, 2021, at 11:00 a.m. ET by video conference.
Further information concerning the Transaction is set out in the full release and in a Notice to Shareholders being mailed to TMAC shareholders starting today.