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Agnico Eagle Issued Warrants in Connection With Loan Agreement With Orla Mining Ltd. Financing
Agnico Eagle Issued Warrants in Connection With Loan Agreement With Orla Mining Ltd. Finan...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n\n\n\nAgnico Eagle Issued Warrants in Connection With Loan Agreement With Orla Mining Ltd. Financing\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, Jan. 7, 2020\n\n\n\n(All amounts expressed in Canadian dollars unless otherwise noted)\n TORONTO, Jan. 7, 2020 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (\"Agnico Eagle\") announced today that it was issued (the \"Issuance\") 10,400,000 common share purchase warrants (the \"2026 Warrants\") of Orla Mining Ltd. (TSX-V: OLA) (\"Orla\") on December 18, 2019 in connection with, and as consideration for the funding commitments provided by Agnico Eagle under, the previously announced loan agreement dated December 18, 2019 (the \"Loan Agreement\") between, among others, Orla and Agnico Eagle.  Each 2026 Warrant entitles the holder to acquire one Common Share at a price of $3.00 at any time prior to December 18, 2026.\nPrior to the Issuance, Agnico Eagle owned 17,613,835 Common Shares and 870,250 common share purchase warrants of Orla entitling holders to acquire one Common Share at a price of $2.35 at any time prior to February 15, 2021 (the \"2021 Warrants\"), representing approximately 9.47% of the issued and outstanding Common Shares on a non-diluted basis and 9.89% of the issued and outstanding Common Shares on a partially-diluted basis assuming the exercise of the 2021 Warrants held by Agnico Eagle.  Following the Issuance, Agnico Eagle owned 17,613,835 Common Shares, 870,250 2021 Warrants and 10,400,000 2026 Warrants, representing approximately 9.47% of the issued and outstanding Common Shares on a non-diluted basis and 14.64% of the issued and outstanding Common Shares on a partially-diluted basis assuming exercise of the 2021 Warrants and the 2026 Warrants held by Agnico Eagle.\nAgnico Eagle and Orla are party to an Amended and Restated Investor Rights Agreement dated December 17, 2019 (the \"Investor Rights Agreement\") pursuant to which Agnico Eagle was granted, subject to the terms and conditions set out in the Investor Rights Ag...