Market Overview

Agnico-eagle Completes Compulsory Acquisition Of Remaining Grayd Shares

Agnico-Eagle Mines Limited (NYSE: AEM) announced today that it has acquired the remaining 5,032,139 common shares (the "Shares") of Grayd Resource Corporation ("Grayd") not already owned by Agnico-Eagle, representing approximately 5.23% of the outstanding Shares on a fully-diluted basis, pursuant to a previously announced compulsory acquisition carried out under the provisions of the Business Corporations Act (British Columbia) (the "Compulsory Acquisition"). Following completion of the Compulsory Acquisition, Agnico-Eagle now owns 96,261,039 Shares, representing 100% of the outstanding Shares on a fully-diluted basis.

Agnico-Eagle acquired the remaining 5,032,139 Shares for the same consideration and on the same terms contained in the offer and circular dated October 13, 2011, as amended and supplemented by a notice of change and variation dated October 21, 2011 (as amended and supplemented, the "Offer"), being consideration per Share of, at the election of each shareholder of Grayd, either (a) Cdn.$2.80 in cash or (b) 0.04039 of a common share of Agnico-Eagle and Cdn.$0.05 in cash, subject, in each case, to pro ration and rounding as set out in the Offer.

Posted-In: News M&A

 

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