UPDATE: Agnico-Eagle Mines Up 1%; Subscribes for 9.6 Mln ATAC Resources Units through Private Placement

By MidnightTrader.com Staff,

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Agnico-Eagle Mines Limited (AEM.TO) entered into an agreement to subscribe for 9.6 million units of ATAC Resources Ltd. in a private placement at a price of $1.35 per unit, for a total consideration of $12.96 million. Each unit is comprised of one common share of ATC and one half of a common share purchase warrant.

On closing of the private placement, Agnico will hold 9.6 million common shares and 4.8 million warrants, representing 8.48% of the issued and outstanding common shares on a non-diluted basis.

AEM edged up 1% to $41.32, with 52-week range of $31.91 - $56.99.

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This article appears in: Investing Commodities
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