Agnico Eagle Mines to Increase Stake in Foran Mining to 13.5%

Agnico Eagle Mines Limited (AEM) recently announced an agreement to subscribe for 30,000,000 voting common shares of Foran Mining Corporation through a non-brokered private placement at a price of C$3.00 per share, for a total investment of C$90 million. The transaction is planned to close in two separate tranches. Each tranche is subject to certain conditions, including approval from the Toronto Stock Exchange. Additionally, the second tranche requires approval from Foran’s shareholders. The first tranche ...