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AGNICO EAGLE ANNOUNCES INVESTMENT IN CANADA NICKEL COMPANY INC.
AGNICO EAGLE ANNOUNCES INVESTMENT IN CANADA NICKEL COMPANY INC. Canada NewsWire ...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n \n \n \n AGNICO EAGLE ANNOUNCES INVESTMENT IN CANADA NICKEL COMPANY INC.\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Stock Symbol: AEM (NYSE and TSX)\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 29, 2023\n \n \n /CNW/ -\n \n Agnico Eagle Mines Limited\n \n (NYSE: AEM) (TSX: AEM) (\"Agnico Eagle\") announced today that it acquired 19,600,000 units (\"Units\") of Canada Nickel Company Inc. (TSXV: CNC) (\"Canada Nickel\") at a price of\n \n $1.18\n \n per Unit for total consideration of approximately\n \n $23,128,000\n \n from several sellers that acquired the Units in connection with an offering of flow-through Units by Canada Nickel (the \"Share Purchases\"). Each Unit was comprised of one common share of Canada Nickel (a \"Common Share\") and 0.35 of one common share purchase warrant of Canada Nickel (each whole common share purchase warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at a price of\n \n $1.77\n \n at any time prior to\n \n December 29, 2026\n \n , subject to acceleration of the expiry date upon the occurrence of certain events.\n \n \n Agnico Eagle has spent approximately two years evaluating the critical minerals sector, focusing on\n \n Canada\n \n and the regions where it operates, where the Company believes it has a competitive advantage. Agnico Eagle's investment in\n \n Canada\n \n Nickel represents an early stage investment in this growing sector. Canada Nickel's large, prospective land package and portfolio of early-stage nickel-sulphide deposits are located in northern\n \n Ontario\n \n , in close proximity to Agnico Eagle's operations in the Abitibi region of\n \n Ontario\n \n and Quebec. Canada Nickel's Crawford Nickel-Cobalt Sulphide Project has a large nickel resource and is expected to have a low carbon footprint. Aligning with Agnico Eagle's well-established strategy of early-stage project investments, this investment represents an opportunity to establish a presence in an emerging nickel belt and monitor both the project's progress and emerg...