Stock Symbol: AEM (NYSE and TSX)
TORONTO,
Jan. 21, 2015 /PRNewswire/ -
Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM)
("Agnico Eagle" or the "Company") announced today that it has
entered into an agreement (the "Purchase Agreement") to sell to
Goldcorp Inc. ("Goldcorp") (i) 7,320,200 common shares (the
"Purchased Shares") of Probe Mines Limited ("Probe") for cash
consideration of C$5.00 per Purchased
Share, and (ii) 2,347,951 common share purchase warrants of
Probe (the "Purchased Warrants") for cash consideration of
C$2.90 per Purchased Warrant. Each
Purchased Warrant entitles the holder to purchase one common share
of Probe (each a "Share") at a price of C$2.10 until May 28,
2015. The Purchased Shares represent approximately 8.1% of
the issued and outstanding Shares on a non-diluted basis. The
Purchased Shares and the Purchased Warrants collectively represent
approximately 10.4% of the issued and outstanding Shares assuming
exercise of the Purchased Warrants.
Upon the closing of the transaction, which is
expected to occur on or about January 28,
2015, Agnico Eagle will hold (i) no Shares, and
(ii) 3,277,049 common share purchase warrants of Probe (the
"Remaining Warrants"), each exercisable on the same terms as the
Purchased Warrants. The Remaining Warrants represent approximately
3.5% of the issued and outstanding Shares assuming exercise of the
Remaining Warrants.
Agnico Eagle disposed of the Purchased Shares
and the Purchased Warrants in the ordinary course of business as
they were a non-core asset of Agnico Eagle.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining
company that has produced precious metals since 1957. Its
nine mines are located in Canada,
Finland and Mexico, with exploration and development
activities in each of these regions as well as in the United States. The Company 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. Agnico Eagle's head
office is located at 145 King Street East, Suite 400, Toronto, Ontario, M5C 2Y7.
Forward-Looking Statements
The information in this news release has been
prepared as of January 21, 2015.
Certain statements contained in this news release 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 and are
referred to herein as "forward-looking statements". When used in
this document, words such as "expected", "will" and similar
expressions are intended to identify forward-looking statements or
information.
Such statements and information include, without
limitation, statements relating to the date of closing of the sale
of the Purchased Shares and the Purchased Warrants and Agnico
Eagle's ownership of Shares and Remaining Warrants following that
date. The material factors and assumptions used in the preparation
of forward-looking statements contained herein, which may prove to
be incorrect include, but are not limited to, that the purchase and
sale of the Purchased Shares and the Purchased Warrants will occur
in accordance with and on the timing currently contemplated by
Agnico Eagle.
These forward-looking statements are subject to
numerous risks, uncertainties and assumptions, certain of which are
beyond the control of Agnico Eagle. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise except as required by applicable securities laws.
SOURCE Agnico Eagle Mines Limited