TORONTO, Nov 14, 2002 (Canada NewsWire via COMTEX) --Stock Symbols: AEM (NYSE) AGE (TSX) Agnico-Eagle Mines
Limited ("Agnico-Eagle") today announced that it has closed its US$192 million
public offering of 13,800,000 common shares and 6,900,000 common share purchase
warrants in Canada and the United States, including common shares and warrants
issuable under the underwriters' over-allotment option. Each whole warrant
entitles the holder to purchase one common share at a price of US$19 per common
share at any time during the five year term of the warrant. The warrants will
trade in United States dollars on both the Toronto Stock Exchange, under the
symbol AGE.WT.U, and on the Nasdaq National Market, under the symbol AEMLW. The
joint- lead managers and joint-bookrunners of the underwriting syndicate were
Merrill Lynch & Co. and TD Securities Inc. Co-managers were Scotia Capital Inc.,
Yorkton Securities Inc., CIBC World Markets Inc., Salomon Smith Barney Canada
Inc., Dundee Securities Corporation and Sprott Securities Inc. The net proceeds
of the offering will be used to fund future potential acquisitions, capital
expenditures and for other general corporate purposes.
As previously announced, Agnico-Eagle has also filed a US$500 million
unallocated shelf prospectus in each of the provinces of Canada and the United
States and a prospectus supplement relating to the offering of common shares on
the exercise of the warrants in the United States.
Agnico-Eagle is an established Canadian gold producer with operations located
principally in northwestern Quebec and exploration and development activities in
Canada and the southwestern United States. Agnico-Eagle's operating history
includes 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 5.2 million ounces in the mineral resource
category at LaRonde.
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 Canadian securities regulators
(including the Ontario and Quebec Securities Commissions) and with the United
States Securities and Exchange Commission (on Form 20-F).
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such state.
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=8887
CONTACT: For further information: David Garofalo, VP Finance and CFO
(416) 847-3708
News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2002 CNW, All rights reserved
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