Business
Agnico Eagle Mines Announces Investment In Rupert Resources
TORONTO, April 1, 2025 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has acquired 2,602,500 common shares
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":" TORONTO, April 1, 2025 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (\"Agnico Eagle\") announced today that it has acquired 2,602,500 common shares (\"Common Shares\") of Rupert Resources Ltd. (\"Rupert\") in a non-brokered private placement at a price of C$4.50 per Common Share for total consideration of C$11,711,250 (the \"Private Placement\"). Concurrent with the closing of the Private Placement, Agnico Eagle exercised its right under an investor rights agreement dated February 11, 2020 between Agnico Eagle and Rupert to designate a nominee, Carol Plummer, to be appointed, or nominated for election to the board of directors of Rupert (the \"Rupert Board\"). Rupert has advised Agnico Eagle that it will nominate Ms. Plummer for election at Rupert's upcoming annual general meeting and will include the required information in its proxy circular. Ms. Plummer is Executive Vice-President, Sustainability, People and Culture at Agnico Eagle and possesses extensive experience in project evaluation, mine building and operations, particularly in Finland, where she was previously the general manager of Agnico Eagle's Kittilä mine. Agnico Eagle believes that Ms. Plummer's expertise will be a valuable asset to the Rupert Board as Rupert advances the Ikkari project and continues exploring the full potential of the property. Prior to the Private Placement, Agnico Eagle owned 30,169,111 Common Shares, representing approximately 13.3% of the issued and outstanding Common Shares on a non-diluted basis. On closing of the Private Placement, Agnico Eagle owned 32,771,611 Common Shares, representing approximately 14.0% of the issued and outstanding Common Shares on a non-diluted basis. Agnico Eagle acquired the Common Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of Rupert or dispose of some or all of the Common Shares or other securities of Rupert it owns at such time. An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact: Agnico Eagle Mines Limited c/o Investor Relations145 King Street East, Suite 400 Toronto, Ontario M5C 2Y7Telephone: 416-947-1212 Email: investor.relations@agnicoeagl...