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BRIEF-Agnico Eagle Announces Investment In Maple Gold Mines Ltd

Published 2020-10-08, 07:55 a/m
Updated 2020-10-08, 08:00 a/m
© Reuters.

Oct 8 (Reuters) - Agnico Eagle Mines Ltd AEM.TO :

* AGNICO EAGLE ANNOUNCES INVESTMENT IN MAPLE GOLD MINES LTD.

* AGNICO EAGLE MINES - TO SUBSCRIBE FOR 25.8 MILLION UNITS OF MAPLE GOLD MINES LTD. IN A NON-BROKERED PRIVATE PLACEMENT AT A PRICE OF $0.239 PER UNIT

* AGNICO EAGLE MINES LTD - AGNICO EAGLE AND MAPLE HAVE ENTERED INTO A BINDING TERM SHEET THAT CONTEMPLATES FORMATION OF A 50-50 JOINT-VENTURE

* AGNICO EAGLE MINES - BINDING TERM SHEET PROVIDES, AMONG OTHER THINGS, AGNICO EAGLE WILL FUND $18 MILLION IN EXPLORATION EXPENSES OVER A FOUR-YEAR PERIOD

* AGNICO EAGLE MINES - AGNICO EAGLE AND MAPLE WILL JOINTLY FUND AN ADDITIONAL $500,000 IN EXPLORATION OF VMS TARGETS ON WESTERN PORTION OF DOUAY PROJECT

* AGNICO EAGLE MINES - CO, MAPLE WILL EACH BE GRANTED A 2% NSR ON PROPERTY THAT THEY CONTRIBUTE TO JV, EACH WITH BUYBACK PROVISIONS OF US$40 MILLION

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