TORONTO, May 30, 2011 /CNW/ --
Stock Symbol: AEM (NYSE and TSX)
(All amounts expressed in Canadian dollars unless otherwise noted)
TORONTO, May 30, 2011 /CNW/ - Agnico-Eagle Mines Limited ('Agnico' or the 'Company') today reported that it had acquired
3,000,000 units ('Units') of Colibri Resource Corporation ('Colibri')
by way of a private placement at a price of $0.20 per Unit for a total
consideration of $600,000 in cash. Each Unit consisted of one common
share ('Common Shares'), resulting in the acquisition of a total of
3,000,000 Common Shares of Colibri by the Company, and one share
purchase warrant ('Warrants'), being 3,000,000 Warrants, each full
Warrant entitling the holder to acquire one Common Share at a price of
$0.35 per share for the next twenty-four months following the closing
date.
Combined with the 3,005,000 common shares and 1,000,000 share purchase
warrants of Colibri previously held, Agnico now holds 6,005,000 common
shares and 4,000,000 share purchase warrants representing an ownership
position in Colibri of 18.6% on a partially diluted basis.
The Common Shares and Warrants were acquired for investment purposes.
Agnico may acquire additional common shares or warrants of Colibri or
dispose of some or all of the common shares or warrants of Colibri
currently held.
Agnico purchased the Common Shares and Warrants pursuant to the
'accredited investor' prospectus exemption provided in National
Instrument 45-106.
About Agnico-Eagle
Agnico-Eagle is a long established, Canadian headquartered, gold
producer with operations located in Canada, Finland and Mexico, and
exploration and development activities in Canada, Finland, Mexico and
the United States. The Company has full exposure to higher gold prices
consistent with its policy of no forward gold sales and maintains a
corporate strategy based on increasing shareholders exposure to gold,
on a per share basis. It has paid a cash dividend for 29 consecutive
years.
www.agnico-eagle.com
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