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Agnico Eagle announces additional investment in Belo Sun
Agnico Eagle announces additional investment in Belo Sun Agnico Eagle announces ad...
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[{"type":"text","content":"\n\n\n\nAgnico Eagle announces additional investment in Belo Sun\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAgnico Eagle announces additional investment in Belo Sun\nCanada NewsWire\nTORONTO, July 25, 2016\n\n\n\n(All amounts expressed in Canadian dollars unless otherwise noted)\n\n\n\nTORONTO, July 25, 2016 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (\"Agnico Eagle\") announced today that, on July 22, 2016, Agnico Eagle agreed to purchase 14,922,760 common shares (the \"Subject Shares\") of Belo Sun Mining Corp. (TSX:BSX) (\"Belo Sun\") pursuant to Belo Sun's previously announced underwritten public offering of 77,320,000 common shares (the \"Offering\").  Agnico Eagle will pay Cdn.$0.85 per Subject Share, for total consideration of Cdn.$12,684,346.  Agnico Eagle understands that closing of the Offering is expected to occur on or about July 27, 2016.\n\nAgnico Eagle currently owns 74,180,000 common shares of Belo Sun, representing approximately 19.2% of the issued and outstanding common shares of Belo Sun on a non-diluted basis.  On closing of the Offering, Agnico Eagle will own 89,102,760 common shares of Belo Sun, representing approximately 19.2% of the issued and outstanding common shares of Belo Sun on a non-diluted basis (after giving effect to the Offering, but otherwise assuming that the number of issued and outstanding common shares of Belo Sun as at the date hereof remains unchanged).  \n\nAs previously disclosed, Agnico Eagle and Belo Sun are party to an investor rights agreement dated May 21, 2015 (the \"Investor Rights Agreement\") pursuant to which Agnico Eagle has the right (which it has not exercised) to nominate one person to the board of directors of Belo Sun and the right to participate in certain equity financings by Belo Sun in order to maintain its pro rata investment. \n\nAgnico Eagle is acquiring the Subject Shares for the purpose of maintaining its pro rata ownership interest in Belo Sun pursuant to its rights under the Investor Rights Agreement.  Agnico Eagle may, from ...