VANCOUVER (miningweekly.com) – Dual-listed Canadian gold producer Agnico Eagle Mines has agreed to issue and sell five-million of its common shares directly to an institutional investor in the US at a price of $43.97 apiece, or about $220-million in total.
Toronto-based Agnico said it will use the net proceeds of the offering for general corporate purposes.
The offering is expected to close on or about March 31, subject to stock exchange approval and satisfying customary conditions.
The shares were offered and are being sold directly by Agnico without an underwriter or placement agent.
Maxit Capital and Sprott Capital Partners are acting as financial advisers to Agnico regarding the offering.
The offering represents about 2.2% of Agnico’s outstanding stock listed on the NYSE.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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