US EditionAGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN FORAN MINING CORPORATION
- Agnico Eagle Mines Limited agreed on May 14, 2025, in Toronto to subscribe for 30 million common shares of Foran Mining Corporation in a non-brokered private placement.
- This Private Placement at C$3.00 per share totals C$90 million and will close in two tranches, subject to Toronto Stock Exchange and Foran shareholder approvals.
- Agnico Eagle currently owns 39,125,448 Foran shares representing about 9.9% ownership and has rights under an investor agreement to maintain or increase this stake up to 19.99%.
- On the first tranche closing expected around May 28, 2025, Agnico Eagle will hold roughly 64.5 million shares or 13.1% ownership, assuming Foran issues additional shares concurrently.
- This investment reflects Agnico Eagle's ongoing strategy to expand holdings in Foran and Azimut Exploration, with possible further acquisitions depending on market conditions.
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AGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN FORAN MINING CORPORATION
Agnico Eagle increases exposure to Foran Mining
Agnico Eagle Mines (TSX:AEM) has agreed to purchase 30 million voting shares of Foran Mining (TSX:FOM) priced at C$3 each for a total investment of C$90 million Agnico Eagle is the third-largest gold producer in the world Agnico Eagle stock has added 56.19 per cent year-over-year but only 50.48 per cent since 2020 Agnico Eagle Mines (TSX:AEM) has agreed to purchase 30 million voting shares of Foran Mining (TSX:FOM) priced at C$3 each for a total…
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