(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.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Common Shares, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Agnico Eagle
Agnico Eagle 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. Agnico Eagle and its shareholders have
full exposure to gold prices due to its long-standing policy of no
forward gold sales. Agnico Eagle has declared a cash dividend every
year since 1983.
Other Information
The Common Shares were offered by way of a prospectus supplement
under Agnico Eagle's shelf prospectus and registration statement on
Form F-10 previously filed with the U.S. Securities and Exchange
Commission (the "SEC") under the U.S./Canadian multijurisdictional
disclosure system. The prospectus supplement will be filed with the
securities commissions or similar regulatory authorities in each of
the provinces of Canada and with
the SEC.
Forward-Looking Statements
The information in this news release has been prepared as at
March 27, 2017. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" under the provisions
of Canadian provincial securities laws. These statements can be
identified by the use of words such as "expected", "may", "will" or
similar terms.
Forward-looking statements in this news release include, but are
not limited to, statements relating to Agnico Eagle's expected use
of the net proceeds from the Offering, the expected timing of the
closing of the Offering and the filing by Agnico Eagle of a
prospectus supplement relating to the Offering.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, while considered reasonable by
Agnico Eagle as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and unknown,
could cause actual results to be materially different from those
expressed or implied by such forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date made. Other than as
required by law, Agnico Eagle does not intend, and does not assume
any obligation, to update these forward-looking statements
SOURCE Agnico Eagle Mines Limited