Business
Agnico Eagle Mines and Kirkland Lake Gold Announce Filing of Joint Management Information Circular in Connection With Proposed Merger
(All amounts expressed in U.S. dollars unless otherwise noted) TORONTO, Nov. 1, 2021 /CNW/ - Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) ("Agnico Eagle"
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":" (All amounts expressed in U.S. dollars unless otherwise noted) TORONTO, Nov. 1, 2021 /CNW/ - Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) (\"Agnico Eagle\" or the \"Company\") and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA) (\"Kirkland Lake Gold\") are pleased to announce today that they have filed a joint management information circular dated October 29, 2021 (the \"Joint Circular\") and related meeting and proxy materials in connection with their respective special meetings of shareholders (the \"Meetings\") scheduled to be held on November 26, 2021. The purpose of the Meetings is to seek approval for certain matters in connection with their previously announced merger of equals (the \"Merger\") to be effected by way of a plan of arrangement under the Business Corporations Act (Ontario). The Merger Pursuant to the merger agreement dated September 28, 2021 (as amended, the \"Merger Agreement\"), Kirkland Lake Gold shareholders (\"Kirkland Shareholders\") will receive 0.7935 of an Agnico Eagle common share (the \"Agnico Shares\") for each Kirkland Lake Gold common share (the \"Kirkland Shares\") held. The Merger will require the affirmative vote of at least two-thirds of the votes cast by holders of Kirkland Shares present (virtually) or represented by proxy and entitled to vote at the special meeting of Kirkland Shareholders (the \"Kirkland Meeting\"). The issuance of shares by Agnico Eagle in connection with the Merger is subject to the approval of at least a majority of votes cast by holders of Agnico Shares (the \"Agnico Shareholders\") present (virtually) or represented by proxy and entitled to vote at the special meeting of Agnico Shareholders (the \"Agnico Meeting\"). Immediately upon completion of the Merger, existing Agnico Shareholders and existing Kirkland Shareholders are expected to own approximately 54% and 46% of the Agnico Shares in the combined company, respectively (on a non-diluted basis). Board of Directors' Recommendations The Board of Directors of each of Agnico Eagle and Kirkland Lake Gold have unanimously approved the Merger and recommend that their respective shareholders vote \"FOR\" the matters put before them at the respective Meetings. Reasons for the Merger In recommending the Merger, the Board of Directors of Agnico Eagle and the Board of Directors of Kirkland Lake Gold considered...