TORONTO, June 10,
2022 /PRNewswire/ - Agnico Eagle Mines Limited
(NYSE: AEM) (TSX: AEM) ("Agnico Eagle") has been notified of an
unsolicited mini-tender offer made by TRC Capital Investment
Corporation ("TRC Capital") to purchase up to 2,000,000 Agnico
Eagle common shares, or approximately 0.44% of Agnico Eagle's
outstanding common shares, at a price of C$64.00 per share. Agnico Eagle does not endorse
this unsolicited offer, has no association with TRC Capital or its
offer, and recommends that shareholders do not tender their shares
to the offer.
Agnico Eagle cautions shareholders that the mini-tender offer
has been made at a price below the current market price for Agnico
Eagle's shares. The offer represents a discount of approximately
4.51% and 4.68% to the closing price of Agnico Eagle's shares on
the Toronto Stock Exchange and the New York Stock Exchange,
respectively, on June 7, 2022, the
last trading day before the mini-tender offer was commenced. The
mini-tender offer is also subject to numerous conditions.
According to TRC Capital's offer documents, Agnico Eagle
shareholders who have tendered their shares can withdraw their
shares at any time before 12:01 a.m.
(Toronto time) on July 8, 2022 by following the procedures
described in the offer documents.
TRC Capital has made similar unsolicited mini-tender offers for
shares of other public companies. Mini-tender offers are designed
to seek less than 5% of a company's outstanding shares, avoiding
disclosure and procedural requirements applicable to most bids
under Canadian and U.S. securities regulations. Both the Canadian
Securities Administrators (the "CSA") and the U.S. Securities and
Exchange Commission (the "SEC") have expressed serious concerns
about mini-tender offers, including the possibility that investors
might tender to such offers without understanding the offer price
relative to the actual market price of their securities, or without
comparing the offer price to the current market price. The CSA's
long-standing guidance on the practice of mini-tenders can be found
here. The SEC has published investor tips regarding mini-tender
offers on its website, which can be found here.
Shareholders should obtain current market quotations for their
shares, consult with their broker or financial advisor and exercise
caution with respect to TRC Capital's mini-tender offer.
Agnico Eagle requests that a copy of this news release be
included in any distribution of materials relating to TRC Capital's
mini-tender offer for Agnico Eagle's shares.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company, producing
precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality
exploration and development projects in these countries as well as
in the United States and
Colombia. Agnico Eagle is a
partner of choice within the mining industry, recognized globally
for its leading environmental, social and governance practices. The
Company was founded in 1957 and has consistently created value for
its shareholders, declaring a cash dividend every year since
SOURCE Agnico Eagle Mines Limited