Agnico-Eagle prices US$250 million offering of common shares
08 June 2006 - 2:49PM
PR Newswire (US)
Stock Symbols: AEM (NYSE and TSX) TORONTO, June 7
/PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited
("Agnico-Eagle") announced that it has entered into an underwriting
agreement today in connection with its previously announced public
offering of common shares in Canada and the United States. The
offering will be made under a prospectus supplement to
Agnico-Eagle's shelf prospectus dated November 15, 2004. The
underwriters have agreed to purchase 8,455,000 million common
shares at price of US$29.57 per share (C$32.87 per share). Closing
of the offering is expected to occur on June 13, 2006. The lead
manager of the underwriting syndicate is Merrill Lynch Canada Inc.
Co-managers are UBS Securities Canada Inc., National Bank Financial
Inc., Orion Securities Inc. TD Securities Inc., Scotia Capital
Inc., Sprott Securities Inc., Blackmont Capital Inc., CIBC World
Markets Inc., Citigroup Global Markets Inc., Paradigm Capital Inc.,
Raymond James Ltd. and Canaccord Capital Corporation. The
underwriters have an option to purchase up to 1,268,250 additional
common shares to cover over-allotments for a period of 30 days
after the date of the final prospectus. The net proceeds of the
offering will be used to fund the completion of construction of the
Lapa mine project, construction of the Kittila mine project, the
exploration and development of Agnico-Eagle's other projects and
for general corporate purposes, including possible acquisitions. A
copy of the prospectus supplement and shelf prospectus in respect
of this offering is available from Merrill Lynch Canada Inc., 181
Bay Street, Suite 400, Toronto, Ontario M6G 2S9. About Agnico-Eagle
Agnico-Eagle is a long established Canadian gold producer with
operations located in Quebec and exploration and development
activities in Canada, Finland, Mexico and the United States.
Agnico-Eagle's LaRonde Mine is Canada's largest gold deposit. The
Company has full exposure to changes in gold prices consistent with
its policy of no forward gold sales. It has paid a cash dividend
for 26 consecutive years. Forward-Looking Statements The
information in this press release has been prepared as at June 7,
2006. Certain statements contained in this press release constitute
"forward- looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995, or
"forward-looking information" under provisions of Canadian
provincial securities laws. When used in this document, the words
"expect", "will" and similar expressions are intended to identify
forward-looking statements or information. Such statements and
information include without limitation: statements regarding
expectations as to the completion, timing and size of any public
offering and the use of net proceeds relating to such offering.
Such statements and information reflect the Company's views as of
the date of this press release and are subject to certain risks,
uncertainties and assumptions, and undue reliance should not be
placed on such statements and information. Many factors, known and
unknown, could cause the actual results and final decisions to be
materially different from those expressed or implied by such
forward-looking statements and information. Such risks include, but
are not limited to: the risk that the Company may not complete its
anticipated equity offering on a timely basis or the amounts
anticipated, if at all; the volatility of the Company's stock
price; the volatility of prices of gold and other metals;
uncertainty of future production, capital expenditures, and other
costs; currency fluctuations; financing of additional capital
requirements; cost of exploration and development programs; mining
risks; risks associated with foreign operations; and governmental
and environmental regulation. For a more detailed discussion of
such risks and other factors, see the Company's Annual Information
Form and Annual Report on Form 20-F, as amended, for the year ended
December 31, 2005, as well as the Company's other filings with the
Canadian Securities Administrators and the U.S. Securities and
Exchange Commission. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements
and information. DATASOURCE: Agnico-Eagle Mines Limited CONTACT:
David Smith; Director, Investor Relations, (416) 947-1212
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