Agnico Eagle Mines (AEM) said late Tuesday it purchased 586,619 units of Maple Gold Mines in a non-brokered private placement at $0.60 per unit for a total of almost $352,000.

Each unit comprises one common share and one share purchase warrant, allowing holders to buy an additional common share at 0.85 Canadian dollars ($0.61) within 36 months of issuance.

Following the transaction, Agnico Eagle now holds 8.05 million common shares and 586,619 warrants, representing 15.38% of Maple's outstanding shares on a non-diluted basis and 16.32% on a partially diluted basis, assuming full warrant exercise.