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Stock Symbol: AEM (NYSE and TSX)
TORONTO, Feb. 28, 2024 /CNW/ - Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM) ("Agnico Eagle") announced today that it has acquired 5,750,000 common shares ("Common Shares") of Prism Resources Inc. ("Prism") from Trevali Mining Corporation at a price of approximately C$0.0174 per Common Share for total consideration of C$100,000 (the "Transaction"), pursuant to a share purchase agreement dated February 13, 2024 (the "Share Purchase Agreement") between Agnico Eagle and FTI Consulting Canada Inc., in its capacity as court-appointed monitor of Prism.
Prism holds a 7.5% Net Profit Interest royalty on the Aurora and Sunday Lake claims (the "Claims"). The Claims form a part of Agnico Eagle's Detour Lake mine property, including Zone 58N and other geologically prospective targets.
Agnico Eagle is acquiring the Common Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of Prism or dispose of some or all of the Common Shares or other securities of Prism that it owns at such time.
Prior to entering into the Share Purchase Agreement, Agnico Eagle did not own any Common Shares. As a result of the Transaction, Agnico Eagle owns 5,750,000 Common Shares, representing approximately 11.07% of the issued and outstanding Common Shares on a non-diluted basis.
