Agnico Eagle and O3 Mining Welcome Gold Fields' Support of Their Friendly Premium Transaction
Agnico Eagle Mines and O3 Mining have announced Gold Fields' support for their takeover bid, where Agnico Eagle offers to acquire all outstanding O3 Mining shares for $1.67 per share in cash. This represents a 57% premium over O3 Mining's 20-day volume-weighted average price on TSX Venture Exchange ending December 11, 2024.
Gold Fields, O3 Mining's largest shareholder with approximately 17% ownership, has agreed to a lock-up agreement with Agnico Eagle. Including this agreement, Agnico Eagle has secured lock-up agreements with shareholders owning about 39% of outstanding shares, including all directors and officers. The offer has received unanimous recommendation from O3 Mining's Board of Directors and Special Committee.
Agnico Eagle Mines e O3 Mining hanno annunciato il supporto di Gold Fields per la loro offerta di acquisizione, in cui Agnico Eagle propone di acquisire tutte le azioni in circolazione di O3 Mining per $1,67 per azione in contante. Questo rappresenta un premium del 57% rispetto al prezzo medio ponderato per volume di 20 giorni di O3 Mining sul TSX Venture Exchange che si è concluso l'11 dicembre 2024.
Gold Fields, il principale azionista di O3 Mining con circa il 17% di possesso, ha accettato un accordo di lock-up con Agnico Eagle. Inclusi in questo accordo, Agnico Eagle ha assicurato accordi di lock-up con azionisti che possiedono circa il 39% delle azioni in circolazione, compresi tutti i direttori e gli funzionari. L'offerta ha ricevuto la raccomandazione unanime dal Consiglio di Amministrazione e dal Comitato Speciale di O3 Mining.
Agnico Eagle Mines y O3 Mining han anunciado el apoyo de Gold Fields para su oferta de adquisición, donde Agnico Eagle ofrece comprar todas las acciones en circulación de O3 Mining por $1.67 por acción en efectivo. Esto representa un premio del 57% sobre el precio promedio ponderado por volumen de O3 Mining en 20 días en el TSX Venture Exchange que finalizó el 11 de diciembre de 2024.
Gold Fields, el mayor accionista de O3 Mining con aproximadamente el 17% de propiedad, ha aceptado un acuerdo de lock-up con Agnico Eagle. Incluyendo este acuerdo, Agnico Eagle ha asegurado acuerdos de lock-up con accionistas que poseen aproximadamente el 39% de las acciones en circulación, incluidos todos los directores y funcionarios. La oferta ha recibido una recomendación unánime de la Junta Directiva y del Comité Especial de O3 Mining.
아그니코 이글 마인즈 와 O3 마이닝 은 골드 필드가 인수 제안에 대한 지원을 발표했습니다. 아그니코 이글은 O3 마이닝의 모든 유통 주식을 현금으로 $1.67 주당에 인수할 것을 제안합니다. 이는 2024년 12월 11일 종료된 TSX 벤처 거래소에서 O3 마이닝의 20일 가중 평균 가격에 대해 57% 프리미엄에 해당합니다.
골드 필드는 O3 마이닝의 최대 주주로 약 17%의 지분을 보유하고 있으며 아그니코 이글과의 락업 계약에 동의했습니다. 이 계약을 포함하여 아그니코 이글은 모든 이사와 임원을 포함하여 약 39%의 유통 주식을 보유한 주주와 락업 계약을 확정했습니다. 이 제안은 O3 마이닝의 이사회와 특별위원회의 전원 추천을 받았습니다.
Agnico Eagle Mines et O3 Mining ont annoncé le soutien de Gold Fields pour leur offre d'acquisition, où Agnico Eagle propose d'acquérir toutes les actions en circulation d'O3 Mining pour 1,67 $ par action en espèces. Cela représente une prime de 57 % par rapport au prix moyen pondéré par le volume des 20 derniers jours d'O3 Mining sur le TSX Venture Exchange, se terminant le 11 décembre 2024.
Gold Fields, le principal actionnaire d'O3 Mining avec environ 17 % de participation, a accepté un accord de verrouillage avec Agnico Eagle. Cet accord inclus, Agnico Eagle a sécurisé des accords de verrouillage avec des actionnaires détenant environ 39 % des actions en circulation, y compris tous les directeurs et hauts fonctionnaires. L'offre a reçu la recommandation unanime du conseil d'administration et du comité spécial d'O3 Mining.
Agnico Eagle Mines und O3 Mining haben die Unterstützung von Gold Fields für ihr Übernahmeangebot angekündigt, bei dem Agnico Eagle anbietet, alle ausstehenden O3 Mining-Aktien zum Preis von $1,67 pro Aktie in bar zu erwerben. Dies entspricht einem 57% Aufschlag auf den 20-tägigen volumen gewichteten Durchschnittspreis von O3 Mining an der TSX Venture Exchange, der am 11. Dezember 2024 endete.
Gold Fields, der größte Aktionär von O3 Mining mit etwa 17% Anteil, hat einem Lock-up-Vereinbarung mit Agnico Eagle zugestimmt. Mit diesem vereinbarten Lock-up hat Agnico Eagle auch Vereinbarungen mit Aktionären gesichert, die etwa 39% der ausstehenden Aktien besitzen, einschließlich aller Direktoren und Führungskräfte. Das Angebot wurde einstimmig vom Board of Directors und dem Sonderausschuss von O3 Mining empfohlen.
- 57% premium offered over 20-day VWAP
- Lock-up agreements secured with 39% of shareholders
- Unanimous board recommendation
- Support from largest shareholder (Gold Fields - 17% stake)
- None.
Insights
(All amounts expressed in Canadian dollars unless otherwise noted)
Gold Fields owns approximately
The offer price of
How to Tender Your Shares; Postal Strike
Only O3 Mining shareholders who tender their Common Shares will receive the cash consideration of
Shareholder type: | How do I tender my Common Shares to the Agnico Eagle Offer? |
Beneficial Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice. | Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer. |
Registered You are a registered shareholder if you hold your Common Shares directly and may have a share certificate or DRS advice. | Contact Laurel Hill Advisory Group: |
In light of the Canada Post labour strike, shareholders are encouraged to stay up to date on the Offer by visiting: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx. Shareholders are also asked not to mail in any Letter of Transmittal or share certificates. Instead, shareholders may contact Laurel Hill Advisory Group.
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 commencement and expiration, mechanics, funding, completion, settlement, results and effects of the Offer, the expected outcomes of completion of the transaction and the other benefits of the transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that the Offer will be made in accordance with the definitive support agreement in respect of the Offer and will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.
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
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