TORONTO, June 20 /PRNewswire/ - Agnico-Eagle Mines Limited ("Agnico-
Eagle") today announced that the underwriters of its recently completed public
offering of 9,000,000 common shares, have exercised their option to purchase
1,350,000 additional common shares at C$12.00 or US$7.90 per share to cover
over-allotments. The purchase is scheduled to close on Monday, June 25, 2001.
The estimated gross proceeds to Agnico-Eagle from the exercise of the over-
allotment option are C$16,200,000. The underwriting syndicate consists of TD
Securities Inc., Merrill Lynch Canada Inc., Scotia Capital Inc., CIBC World
Markets Inc., National Bank Financial Inc., Salomon Smith Barney Canada Inc.,
Dundee Securities Corporation and Research Capital Corporation. The net
proceeds from the offering will be used to fund the expansion of the LaRonde
Mine and for general corporate purposes, including possible acquisitions.
Agnico-Eagle is an established Canadian gold producer with operations
located principally in Northwestern Quebec and exploration and development
activities in Quebec, Ontario and Nevada. Agnico-Eagle's operating history
includes almost three decades of continuous gold production primarily from
underground mining operations. Current proven and probable reserves stand at
3.3 million contained ounces, with an additional 4.5 million ounces in the
mineral resource category at its LaRonde Mine.
Agnico-Eagle media releases and other securities filings are available at
www.sedar.com.
This press release contains certain "forward-looking statements" (within
the meaning of the United States Private Securities Litigation Reform Act of
1995) that involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from those anticipated in such
statements. Risks and uncertainties are disclosed under the heading "Risk
Factors" in the Company's Annual Information Form (AIF) filed with certain
Canadian securities regulators (including the Ontario and Quebec Securities
Commissions) and with the United States Securities and Exchange Commission (on
Form 20-F).
SOURCE Agnico-Eagle Mines Limited
-0- 06/20/2001
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