#Canada #Acquisition #Toronto #Agnico Eagle #O3 Mining

Agnico Eagle Completes Full Acquisition of O3 Mining

In a notable development within the gold mining industry, Agnico Eagle Mines Limited has finalized the acquisition of O3 Mining Inc., gaining full ownership of the company. This strategic move marks a significant milestone for Agnico Eagle as it continues to expand its portfolio of mining operations.

Details of the Acquisition

The acquisition, officially completed on March 18, 2025, involved the amalgamation of O3 Mining and Agnico Eagle Abitibi Acquisition Corp., a wholly-owned subsidiary of Agnico Eagle. Shareholders of O3 Mining, excluding Agnico Eagle, will receive $1.67 in cash for each of the O3 Mining common shares held. This conversion is an integral part of the takeover process initiated by Agnico Eagle’s Board, which was fully supported by the company's leadership.

Following this transaction, it is anticipated that O3 Mining's shares will be delisted from the TSX Venture Exchange around March 20, 2025. Additionally, O3 Mining will file for cessation as a reporting issuer under Canadian securities laws, indicating the close of its independent operations.

Guidelines for Shareholders

For registered shareholders seeking to claim their cash consideration, they must accurately fill out and return the letter of transmittal included within the Circular, alongside all required documentation to Odyssey Trust Company, which will act as the depositary for this amalgamation. Non-registered shareholders should reach out to their respective intermediaries for guidance on the conversion process from shares to cash.

Warrant holders of O3 Mining are also impacted by this acquisition; outstanding warrants can be exercised in accordance with the new terms laid out in an amended warrant indenture, permitting a cash receipt of $1.67 rather than common shares.

About Agnico Eagle Mines Limited

Agnico Eagle, founded in 1957, is recognized as one of the leading mining companies in the world, especially in gold production, with operational facilities not only in Canada but also in Australia, Finland, and Mexico. The company is celebrated for its commitment to sustainable mining practices and has declared dividends annually since 1983, making it a respected partner in the industry.

This acquisition of O3 Mining not only underscores Agnico Eagle's growth strategy but also illustrates its dedication to increasing shareholder value in the long run.

As the landscape of the mining industry evolves, Agnico Eagle's proactive measures in maintaining operational excellence and strategic acquisitions position the firm favorably within the competitive market.