Agnico Eagle Mines To Acquire Aurion

Agnico-Eagle Mines

162.55 CHF -2.64%

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(RTTNews) - Aurion Resources (AU.V) has entered into a definitive arrangement agreement pursuant to which Agnico Eagle Mines Limited (AEM.TO, AEM) has agreed to acquire all of the issued and outstanding common shares of Aurion, other than the Aurion shares currently held by Agnico Eagle, by way of a statutory plan of arrangement. Upon closing of the transaction, it is expected that the Aurion shares will be delisted from the TSXV. Holders of Aurion shares will receive C$2.60 per Aurion share payable in cash, for an aggregate purchase price of approximately C$481 million on a fully-diluted basis.

Agnico Eagle currently owns approximately 11.1 million Aurion shares and approximately 5.5 million Aurion warrants that it intends to exercise prior to the Special Meeting. Following the exercise of the Aurion warrants, Agnico Eagle will hold an aggregate of 16.6 million Aurion shares representing approximately 9.9% of the Aurion shares outstanding on a non-diluted basis.

In pre-market trading on NYSE, Agnico Eagle Mines shares are down 0.98 percent to $217.99.