Agnico Eagle and O3 Mining Issue Final Reminder to Tender to Agnico Eagle's All Cash 58% Premium Offer Expiring January 23, 2025
Agnico Eagle Mines has issued a final reminder for O3 Mining shareholders to tender their shares to its all-cash offer at $1.67 per share, representing a 58% premium to O3 Mining's closing price on December 11, 2024. The offer expires on January 23, 2025 at 11:59 pm EST.
Approximately 39% of O3 Mining's outstanding shares are already committed through lock-up agreements, including all directors, officers, and several major shareholders. The board of directors unanimously recommends shareholders accept the offer.
If conditions are met, Agnico Eagle will process payments by January 28, 2025. The company intends to acquire 100% of remaining shares in a second-step transaction, expected to close in Q2 2025, without requiring a 90% tender threshold.
Agnico Eagle Mines ha emesso un promemoria finale per gli azionisti di O3 Mining affinché presentino le loro azioni per la sua offerta in contante di $1,67 per azione, rappresentando un premio del 58% rispetto al prezzo di chiusura di O3 Mining dell'11 dicembre 2024. L'offerta scade il 23 gennaio 2025 alle 23:59 EST.
Circa il 39% delle azioni in circolazione di O3 Mining sono già impegnate attraverso accordi di lock-up, inclusi tutti i dirigenti, funzionari e diversi grandi azionisti. Il consiglio di amministrazione raccomanda unanimemente agli azionisti di accettare l'offerta.
Se saranno soddisfatte le condizioni, Agnico Eagle elaborerà i pagamenti entro il 28 gennaio 2025. L'azienda intende acquisire il 100% delle azioni rimanenti in una transazione di secondo passo, prevista per chiudere nel secondo trimestre del 2025, senza richiedere una soglia di aderente del 90%.
Agnico Eagle Mines ha emitido un recordatorio final para los accionistas de O3 Mining para que entreguen sus acciones en su oferta en efectivo de $1.67 por acción, lo que representa una prima del 58% sobre el precio de cierre de O3 Mining del 11 de diciembre de 2024. La oferta expira el 23 de enero de 2025 a las 11:59 PM EST.
Aproximadamente el 39% de las acciones en circulación de O3 Mining ya están comprometidas a través de acuerdos de lock-up, incluyendo todos los directores, funcionarios y varios accionistas importantes. El consejo de administración recomienda unánimemente a los accionistas aceptar la oferta.
Si se cumplen las condiciones, Agnico Eagle procesará los pagos antes del 28 de enero de 2025. La compañía tiene la intención de adquirir el 100% de las acciones restantes en una segunda transacción, que se espera cerrar en el segundo trimestre de 2025, sin requerir un umbral de aceptación del 90%.
아그니코 이글 마인스는 O3 Mining 주주들에게 주당 $1.67의 전액 현금 제안에 그들의 주식을 제출하라는 최종 알림을 발송했습니다. 이는 O3 Mining의 2024년 12월 11일 종가에 비해 58%의 프리미엄을 나타냅니다. 제안은 2025년 1월 23일 오후 11시 59분 EST에 만료됩니다.
약 O3 Mining의 유통 주식의 39%가 이미 락업 계약을 통해 약속되었으며, 여기에는 모든 이사, 임원 및 몇몇 주요 주주가 포함됩니다. 이사회는 주주들에게 제안을 수락할 것을 만장일치로 권장합니다.
조건이 충족되면 아그니코 이글은 2025년 1월 28일까지 지급을 처리할 것입니다. 회사는 90%의 제출 기준 없이 2025년 2분기에 종료될 것으로 예상되는 2단계 거래에서 남아 있는 100%의 주식을 인수할 계획입니다.
Agnico Eagle Mines a émis un rappel final aux actionnaires d'O3 Mining pour qu'ils soumettent leurs actions à son offre entièrement en espèces de 1,67 $ par action, représentant une prime de 58% par rapport au prix de clôture d'O3 Mining du 11 décembre 2024. L'offre expire le 23 janvier 2025 à 23h59 EST.
Environ 39% des actions en circulation d'O3 Mining sont déjà engagées par le biais d'accords de lock-up, y compris tous les directeurs, dirigeants et plusieurs grands actionnaires. Le conseil d'administration recommande à l'unanimité aux actionnaires d'accepter l'offre.
Si les conditions sont remplies, Agnico Eagle traitera les paiements d'ici le 28 janvier 2025. L'entreprise prévoit d'acquérir 100% des actions restantes lors d'une transaction en deuxième étape, qui devrait se conclure au deuxième trimestre 2025, sans exiger un seuil de soumission de 90%.
Agnico Eagle Mines hat eine endgültige Erinnerung an die Aktionäre von O3 Mining herausgegeben, ihre Aktien zu seinem Barangebot von 1,67 $ pro Aktie einzureichen, was einen Aufschlag von 58% auf den Schlusskurs von O3 Mining am 11. Dezember 2024 darstellt. Das Angebot läuft am 23. Januar 2025 um 23:59 Uhr EST aus.
Ungefähr 39% der ausstehenden Aktien von O3 Mining sind bereits durch Lock-up-Vereinbarungen verpflichtet, einschließlich aller Direktoren, Führungskräfte und mehrerer großer Aktionäre. Der Vorstand empfiehlt einstimmig den Aktionären, das Angebot anzunehmen.
Sofern die Bedingungen erfüllt sind, wird Agnico Eagle die Zahlungen bis zum 28. Januar 2025 bearbeiten. Das Unternehmen beabsichtigt, 100% der verbleibenden Aktien in einem zweiten Schritt zu erwerben, der voraussichtlich im 2. Quartal 2025 abgeschlossen wird, ohne eine 90%ige Annahmeschwelle zu verlangen.
- 58% premium offered over December 11, 2024 closing price
- 39% of shares already secured through lock-up agreements
- Unanimous board recommendation for the tender offer
- No 90% threshold requirement for completing acquisition
- Second-step transaction delayed until Q2 2025
- Offer is expiring on January 23, 2025
- Agnico is committed to the Offer at
$1.67 58% premium to O3 Mining's closing price on December 11, 2024 39% of outstanding shares of O3 Mining signed lock-up agreements to tender to the Offer- Offer unanimously recommended by Board and Special Committee of O3 Mining
- Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com
Tender Shares for Prompt Payment
O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to January 23, 2025 to ensure prompt receipt of the Offer price of
All directors and officers of O3 Mining and several of O3 Mining's largest shareholders, representing approximately
O3 Mining shareholders are encouraged to tender their Common Shares as soon as possible to ensure intermediaries have sufficient time to process their requests. The board of directors of O3 Mining continues to unanimously recommend that O3 Mining shareholders tender their Common Shares to the Offer.
Agnico Eagle's Intentions
Agnico is committed to the Offer at
How do I tender my Common Shares?
Shareholder Type | How do I tender my Common Shares? |
Beneficial Shareholders – Most shareholders | Contact your bank or your broker |
Registered Shareholders – You are a | Contact Laurel Hill Advisory Group: Phone: 1-877-452-7184 (toll-free) |
If you have any questions or require any assistance with tendering your Common Shares to the Offer, please contact our Depositary and Information Agent:
Laurel Hill Advisory Group
North American Toll-Free: 1-877-452-7184
Outside
E-mail: assistance@laurelhill.com
Visit us at www.agnicoeagle.com/Offer-for-O3-Mining to receive the most up-to-date information about the Offer.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in
About Agnico Eagle Mines Limited
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of expiration, mechanics, take up, funding, completion and settlement; the ability of Agnico Eagle to complete the transactions contemplated by the Offer; the satisfaction or waiver of the conditions to consummate the Offer; a second step transaction pursuant to which Agnico Eagle may acquire
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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SOURCE O3 Mining Inc.
FAQ
What is the premium offered by Agnico Eagle for O3 Mining (OIIIF) shares?
When does Agnico Eagle's tender offer for O3 Mining (OIIIF) expire?
What percentage of O3 Mining (OIIIF) shares are committed through lock-up agreements?
When will Agnico Eagle pay O3 Mining (OIIIF) shareholders who tender their shares?
When is the second-step transaction for remaining O3 Mining (OIIIF) shares expected to close?
