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Deal snapshot: AGNICO EAGLE TO BUY 19.97% STAKE IN CANADIAN MINER CARTIER RESOURCES FOR USD 3.36M.

MANews-(C)2009-2016

Canada-based gold mining company Agnico Eagle Mines Ltd. (NYSE: AEM) (TSX: AEM) has agreed to purchase 22.5m common shares of Canada-based exploration company Cartier Resources Inc. (TSX Venture: ECR) in a non-brokered private placement at a price of USD 0.15 (CDN 0.20) per share for total consideration of USD 3.36m (CDN 4.5m), the company said.

On closing of the transaction, Agnico Eagle will own 22.5m common shares of Cartier, representing approximately 19.97% of the issued and outstanding common shares of Cartier on a non-diluted basis (after giving effect to the transaction, but otherwise assuming that the number of issued and outstanding common shares of Cartier as at the date hereof remains unchanged).

Country: Canada

Sector: Metals/Mining

Target: Cartier Resources/19.97% stake

Buyer: Agnico Eagle Mines

Vendor:

Deal size in USD: 3.36m

Type: Stakebuilding

Financing: Cash and Stock

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:1CANA
Date:Dec 21, 2016
Words:155
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