Toronto - April 15, 1997 --Agnico-Eagle Mines Limited today announced that it has closed its previously announced offering
of 4,000,000 common shares in the United States and Canada. The offering was led by Merrill
Lynch & Co., Salomon Brothers Inc. and EVEREN Securities, Inc.
The net proceeds of the offering, estimated to be US$40,857,575 (Cdn.$55,961,615), will be
used to fund capital expenditure costs relating to the expansion of the LaRonde Division and
other development and exploration projects, and for general corporate purposes, including
possible acquisitions.
Agnico-Eagle Mines Limited is an established Canadian gold producer with operations located
principally in northwestern Quebec and exploration and development activities in Quebec and
Ontario. The Company's operating history includes 22 years of continuous gold production
primarily from underground mining operations. Agnico-Eagle is currently working on several
underground projects which are expected to result in increased gold production and expanded
gold reserves.
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