Agnico Eagle(AEM) Prnewswire·2025-03-17 12:00Core Viewpoint - Agnico Eagle Mines Limited has agreed to invest in Collective Mining Ltd through a private placement, acquiring a significant stake in an early-stage gold exploration project in Colombia, enhancing its portfolio of high-quality growth projects [1][2]. Investment Details - Agnico Eagle will subscribe for 4,741,984 common shares of Collective at C52,161,824 [1]. - Concurrently, Agnico Eagle will exercise warrants to acquire an additional 2,250,000 common shares at C11,272,500 [1]. - Upon closing, Agnico Eagle will own 12,718,219 common shares, representing approximately 14.99% of the total issued shares on a non-diluted basis [3]. Strategic Rationale - The investment aligns with Agnico Eagle's strategy of acquiring positions in projects with high geological potential, particularly in regions with a strong mining history [2]. - The investment in Collective is seen as a way to enhance Agnico Eagle's exposure to gold exploration in Colombia, led by a capable management team [2]. Investor Rights Agreement - An investor rights agreement allows Agnico Eagle to maintain its ownership percentage through participation in future equity financings, with the ceiling for ownership interest increased from 9.99% to 14.99% [4]. - Agnico Eagle has the right to nominate board members, although it currently has no intention to exercise this right [4]. Company Overview - Agnico Eagle is a leading Canadian gold mining company and the third largest gold producer globally, with operations in Canada, Australia, Finland, and Mexico [6]. - The company has a strong track record of sustainability and has consistently provided shareholder value through annual cash dividends since 1983 [7].