Agnico Eagle Mines Expands Position in Wallbridge Mining Through Private Placement

MT Newswires Live

05/20

Agnico Eagle Mines (AEM) said Wednesday that it has agreed to buy about 243.9 million Wallbridge Mining shares through a private placement at 0.092 Canadian dollar ($0.067) per share, for a total of approximately CA$22.4 million.

The transaction will raise its stake in Wallbridge to roughly 19.6% on a non-diluted basis after closing, expected around Friday, Agnico Eagle Mines said.

The company said the investment reflects its strategy to build positions in assets with strong geological potential and to adjust holdings based on market conditions and strategic priorities.

Agnico Eagle Mines shares were 1.3% higher in Wednesday premarket activity.

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