Agnico Eagle agrees to C$57.16 million Radisson Mining unit subscription for 10.45% stake
AEM•Warrant terms and use of proceeds
Each unit includes one common share and one-half warrant; the warrants are exercisable for 60 months at C$1.39.
Proceeds are earmarked for an advanced underground exploration program at the O’Brien Gold Project in Québec’s Abitibi region.
Agnico Eagle to invest C$57.16 million in Radisson private placement
Agnico Eagle agreed to invest C$57.16 million in Radisson via a private placement of 53,420,000 units priced at C$1.07.
The deal implies a 6% premium to the Aug. 21 close and a 19% premium to the 20-day VWAP.
Agnico Eagle is expected to hold about 10.45% of shares outstanding, rising to about 14.9% on a partially diluted basis.
