Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) -- Ignore unavailable to you. Want to Upgrade?

To: I_C_Deadpeople who wrote (1562)	10/31/2002 12:47:38 PM
From: Gary H	Read Replies (1) \| Respond to of 1612

Acquisition is on the list; Stock Symbols: AEM (NYSE) AGE (TSE) TORONTO, Oct. 31 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle") today announced that it has entered into an underwriting agreement in connection with its previously announced public offering of units in Canada and the United States pursuant to a preliminary short form prospectus and registration statement filed yesterday. The underwriters have agreed to purchase 12 million units at a price of US$13.90 per unit. Each unit will consist of one common share and one half of a common share purchase warrant of Agnico-Eagle. Each whole warrant will entitle the holder to purchase one common share at a price of US$19 per share at any time during the five year term of the warrant. The joint-lead managers and joint-bookrunners of the underwriting syndicate are TD Securities Inc. and Merrill Lynch & Co. Co-managers are Scotia Capital Inc., Yorkton Securities Inc., CIBC World Markets Inc., Salomon Smith Barney Canada Inc., Dundee Securities Corporation and Sprott Securities Inc. The gross proceeds to the company, before underwriting commissions and expenses, are expected to be US$167 million. The underwriters have an option to purchase up to 1.8 million additional units 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 future potential acquisitions, capital expenditures and other general corporate purposes. Agnico-Eagle is an established Canadian gold producer with operations located principally in northwestern Quebec and exploration and development activities in Canada and the southwestern United States. Agnico-Eagle's operating history includes three decades of continuous gold production, primarily from underground mining operations. Current proven and probable reserves stand at 3.3 million contained ounces, with an additional 5.2 million ounces in the mineral resource category at LaRonde. A final prospectus relating to the units has not yet been filed in Canada and the registration statement relating to the units filed with the United States Securities and Exchange Commission has not yet become effective. The units may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the preliminary short form prospectus may be obtained from Merrill Lynch & Co., 250 Vesey Street, New York, NY, 10281, Attention: Syndication or TD Securities Inc., 66 Wellington Street West, 7th Floor, Toronto, Ontario, M5K 1A2, Attention: Equity Capital Markets.