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Agnico Eagle Announces Investment in Royal Road Minerals Limited
Agnico Eagle Announces Investment in Royal Road Minerals Limited Canada NewsWire ...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n\n\n\nAgnico Eagle Announces Investment in Royal Road Minerals Limited\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\n\nCanada NewsWire\nTORONTO, May 24, 2019\n\n\n\n(All amounts expressed in Canadian dollars unless otherwise noted)\n TORONTO, May 24, 2019 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (\"Agnico Eagle\") announced today that it has acquired 26,133,158 ordinary shares of Royal Road Minerals Limited (TSX-V: RYR) (\"Royal Road\") in a private placement by Royal Road at a price of $0.20 per share for total consideration of $5,226,632.\nPrior to the transaction, Agnico Eagle held ownership of and control over 16,379,550 ordinary shares of Royal Road, representing approximately 9.43% of the issued and outstanding ordinary shares of Royal Road.  Agnico Eagle now owns 42,512,708 ordinary shares of Royal Road, representing approximately 19.9% of the issued and outstanding ordinary shares of Royal Road on a non-diluted basis.\nIn connection with the transaction, Agnico Eagle and Royal Road entered into an investor rights agreement pursuant to which Agnico Eagle will, provided Agnico Eagle owns, directly or indirectly, 9.5% or more of the ordinary shares of Royal Road (calculated in accordance with the investor rights agreement): (i) have the right to participate in equity financings by Royal Road in order to, at Agnico Eagle's election, (A) maintain its pro rata ownership in Royal Road at the time of any such financing, or (B) acquire up to a 19.9% ownership interest in Royal Road (after giving effect to any such financing); (ii) in the event that ordinary shares are issued by Royal Road as a result of the exercise of currently outstanding convertible securities of Royal Road, the right to subscribe for additional ordinary shares of Royal Road in order to, at Agnico Eagle's election, (A) maintain its pro rata ownership in Royal Road at the time of any such issuance, or (B) acquire up to a 19.9% ownership interest in Royal Road (after giving effect to any such issuance); and (iii) have the right (which Ag...