20 January 2021
TMAC Resources Inc. announces that it has received an amended final order from the Ontario Superior Court of Justice (Commercial List) approving the acquisition of TMAC by Agnico Eagle Mines Limited (“Agnico Eagle”) as the substituted purchaser under the previously approved plan of arrangement (the “Transaction”). As previously announced, the Transaction provides for the acquisition by Agnico Eagle of all the issued and outstanding common shares of TMAC at an all-cash price of C$2.20 per share by way of a statutory plan of arrangement under the Business Corporations Act (Ontario).
On January 6, 2021, the parties received an advance ruling certificate under the Competition Act (Canada) satisfying the “Competition Act Clearance” condition in respect of the Transaction. With the receipt of the amended final order, assuming all other conditions precedent to closing the Transaction are satisfied or waived at that time, the Transaction is expected to close on or about February 2, 2021. Following closing of the Transaction, the TMAC common shares will be de-listed from the Toronto Stock Exchange.
Non-registered shareholders (who hold their shares with a bank, broker or other financial intermediary) are advised that they need take no further action in order to receive the all-cash price of C$2.20 per share. Registered shareholders should send their completed and executed letters of transmittal and TMAC share certificates or DRS advices to the depositary, Computershare Trust Company of Canada, as soon as possible in order to receive the C$2.20 per share they are entitled to in connection with the Transaction. Letters of transmittal already sent to or received by the depositary remain valid. Full details of how to receive the consideration are set out in the Company’s management information circular dated May 28, 2020 (the “Arrangement Circular”), as supplemented by TMAC’s Notice to Shareholders dated January 7, 2021 (the “Notice to Shareholders”). A copy of the Arrangement Circular, the Notice to Shareholders and the letter of transmittal can be found under TMAC’s profile on SEDAR at www.sedar.com.