This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Agnico-Eagle Mines Limited Announces Investment In Kootenay Silver Inc.

(All amounts expressed in Canadian dollars unless otherwise noted)

TORONTO, April 23, 2013 /PRNewswire/ - Agnico-Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico") today announced that it has agreed to subscribe for 6,250,000 units ("Units") of Kootenay Silver Inc. ("Kootenay") in a non-brokered private placement at a price of $0.76 per Unit for total consideration of $4,750,000.  Each Unit is comprised of one common share of Kootenay (a "Common Share") and one-half of one common share purchase warrant of Kootenay (each whole common share purchase warrant, a "Warrant").  Each Warrant entitles the holder to acquire one Common Share at a price of $1.08 for a period of two years from the closing date.  Closing of the private placement is expected to occur on or about April 26 , 2013.

On closing of the private placement, Agnico will hold 6,250,000 Common Shares and 3,125,000 Warrants, representing 9.96% of the issued and outstanding Common Shares on a non-diluted basis and 14.23% of the Common Shares assuming exercise of the Warrants.  The agreement also provides Agnico with a participation right pursuant to which , during the two-year period from the closing date, and provided that Agnico at the time continues to hold no less than five percent of the then issued and outstanding Common Shares (taking into account convertible securities owned by Agnico) , Agnico has the right to participate in certain future equity financings by Kootenay in order to maintain its pro rata investment in Kootenay.

Agnico is acquiring the Units for investment purposes.  Depending on market conditions, Agnico may, from time to time, acquire additional securities of Kootenay or dispose of some or all of the Common Shares or Warrants.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs