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Agnico Eagle Participates in Orla Mining Ltd. Financing
Agnico Eagle Participates in Orla Mining Ltd. Financing Canada NewsWire TORONTO,...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n\n\n\nAgnico Eagle Participates in 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, Feb. 15, 2018\n\n\n\n(All amounts expressed in Canadian dollars unless otherwise noted)\n\n\n\nTORONTO, Feb. 15, 2018 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (\"Agnico Eagle\") announced today that it has acquired 1,740,500 units (\"Units\") of Orla Mining Ltd. (TSX-V: OLA) (\"Orla\") at a price of $1.75 per Unit for total consideration of $3,045,875.  Each Unit is comprised of one common share of Orla (a \"Common Share\") and one-half of one common share purchase warrant of Orla (each full common share purchase warrant, a \"Warrant\").  Each Warrant entitles the holder to acquire one Common Share at a price of $2.35 at any time prior to February 15, 2021.  Agnico Eagle acquired the Units pursuant to a public offering of Units by Orla under a short form prospectus (the \"Offering\").  The Offering closed on February 15, 2018.\n\nPrior to the closing of the Offering, Agnico Eagle owned 15,873,335 Common Shares, representing approximately 9.86% of the issued and outstanding Common Shares on a non-diluted basis.  Upon closing of the Offering, Agnico Eagle owns 17,613,835 Common Shares and 870,250 Warrants, representing approximately 9.86% of the issued and outstanding Common Shares on a non-diluted basis and approximately 10.30% of the issued and outstanding Common Shares on a partially-diluted basis assuming exercise of the Warrants held by Agnico Eagle.\n\nAgnico Eagle and Orla are party to a participation right agreement dated January 26, 2018 pursuant to which Agnico Eagle has the right, provided Agnico Eagle owns at least a 5% interest in Orla (calculated in accordance with the participation right agreement), to participate in certain equity financings by Orla in order to maintain its then-applicable ownership interest in Orla (calculated in accordance with the participation right agreement).\n\nAgnico Eagle acquired the Common Shares and the Warrants for in...