Business
Agnico Eagle Mines Announces Disposition of Its Interest in Orla Mining
TORONTO, Sept. 9, 2025 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") announced today that it sold 38,002,589
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":" TORONTO, Sept. 9, 2025 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (\"Agnico Eagle\" or the \"Company\") announced today that it sold 38,002,589 common shares (\"Common Shares\") of Orla Mining Ltd. (\"Orla\") in a sale to buyers in Canada, the United States and elsewhere through the facilities of the Toronto Stock Exchange at a price of C$14.75 per Common Share for total consideration of C$560,538,188 (the \"Disposition\"). \"Our investment in Orla has been mutually beneficial for both companies. With Orla's success in evolving into an established intermediate producer and in the context of the current gold market, we believe it is the right time to monetize our investment. This demonstrates our commitment to disciplined capital allocation and allows us to redeploy capital to our strategic priorities,\" said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer. \"We would like to thank Orla's management team and board of directors and congratulate them on their success in creating significant value for shareholders.\" Immediately prior to the Disposition, Agnico Eagle had beneficial ownership of, or control or direction over, 38,002,589 Common Shares, representing approximately 11.3% of the issued and outstanding Common Shares on a non-diluted basis. After giving effect to the Disposition, Agnico Eagle does not have beneficial ownership of, or control or direction over, any Common Shares. Agnico Eagle focuses on its high-quality internal growth projects and complements its pipeline of projects with a strategy of acquiring strategic toehold positions in prospective opportunities with high geological potential. Recognizing the strength of Orla's team and the potential of its advanced exploration asset, the Company invested at an early stage and has been a supportive shareholder since Orla was established in 2017. Since then, Orla has transformed from a developer into an established mid-tier producer, led by an accomplished management team and is well-positioned to broaden its shareholder base. Agnico Eagle reviews its toe-hold investments against its strategic priorities on a periodic basis and may, from time to time, divest certain holdings. Agnico Eagle completed the Disposition in order to monetize its investment in Orla and does not currently have any intention to acquire Common ...