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Agnico Eagle Delivers Offer to Acquire Alexandria Minerals Corporation
Agnico Eagle Delivers Offer to Acquire Alexandria Minerals Corporation Canada News...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n\n\n\nAgnico Eagle Delivers Offer to Acquire Alexandria Minerals Corporation\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\nCanada NewsWire\nTORONTO, June 13, 2019\n\n\n\nStock Symbol: AEM (NYSE and TSX)\n TORONTO, June 13, 2019 /CNW/ - Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (\"Agnico Eagle\") is pleased to announce that it has delivered a definitive offer to the board of directors of Alexandria Minerals Corporation (\"Alexandria\") pursuant to which Agnico Eagle would acquire 100% of Alexandria's issued and outstanding common shares (the \"Alexandria Shares\"), including common shares issuable under outstanding options and warrants, by way of a plan of arrangement under the Canada Business Corporations Act (the \"Proposal\").  Total consideration required to effect the acquisition is expected to be approximately C$26 million (which has been calculated based on C$0.05 per issued and outstanding Alexandria Share).  The Proposal is not subject to any financing or due diligence condition.  Agnico Eagle has been informed that Alexandria's board of directors has determined that the Proposal constitutes a \"Superior Proposal\" as defined in the arrangement agreement dated May 14, 2019 (the \"Chantrell Agreement\") between Alexandria and Chantrell Ventures Corp. (\"Chantrell\").\nStrategic Rationale for Agnico Eagle\nThe acquisition of Alexandria will allow Agnico Eagle to consolidate an additional 14,819 hectares of mining claims that cover approximately 35 kilometres of strike length along the Cadillac-Larder Lake break in the prospective Val d'Or gold camp. Three of Alexandria's properties (Orenada, Akasaba and Sleepy) collectively contain historical inferred mineral resources of 526,702 ounces of gold (4.6 million tonnes at 3.53 grams per tonne gold) and indicated mineral resources of 448,654 ounces of gold (7.4 million tonnes at 1.88 grams per tonne gold), each as estimated by Alexandria.\n\"Agnico Eagle has a long history of involvement with Alexandria, both as an equity investor and through the purchase of the Akasaba ...