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TMAC Resources Inc. to be Acquired by Agnico Eagle
TMAC Resources Inc. to be Acquired by Agnico Eagle Canada NewsWire TO...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n \n \n \n TMAC Resources Inc. to be Acquired by Agnico Eagle\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 5, 2021\n \n /CNW/ -\n \n Agnico Eagle Mines Limited\n \n (NYSE: AEM) (TSX: AEM) (\"Agnico Eagle\") and\n \n TMAC Resources Inc.\n \n (TSX: TMR) (\"TMAC\") announced today that they have entered into agreements pursuant to which Agnico Eagle has agreed to acquire all of the outstanding common shares of TMAC (the \"Transaction\") at a price of\n \n C$2.20\n \n per share (the \"Offer Price\") in cash, which represents an increase of\n \n C$0.45\n \n per share as compared to the offer price of\n \n C$1.75\n \n offered by\n \n Shandong\n \n under the original Arrangement Agreement, as further described below.\n \n \n \n \n \n \n \n \n \n The Transaction is being effected by way of assignment to Agnico Eagle of the arrangement agreement dated\n \n May 8, 2020\n \n (the \"Arrangement Agreement\") among TMAC, Shandong Gold Mining (HongKong) Co., Limited and its affiliate Streamers Gold Mining Corporation Limited (collectively, \"Shandong\") and Shandong Gold Mining Co., Ltd. (together with\n \n Shandong\n \n , the \"Shandong Parties\") in accordance with an assignment, assumption and novation agreement among the Shandong Parties, TMAC and Agnico Eagle dated\n \n January 4, 2021\n \n (the \"Assignment Agreement\") and the amendment of the Arrangement Agreement under an amending agreement between Agnico Eagle and TMAC dated\n \n January 4, 2021\n \n (the \"Amending Agreement\").  The arrangement was approved by 97.08% of the votes of TMAC shareholders that were represented at the special meeting held on\n \n June 26, 2020\n \n ; there will be no further shareholders' meeting in connection with the Transaction.\n \n \n The total equity value under the Transaction is approximately\n \n C$286\n \n .6 million.  In addition, in connection with the closing of the Transaction, Agnico Eagle will retire TMAC's outstanding debt and deferred interest and fees.  The Offer Price represents a pre...