TORONTO, Dec. 19 /PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited announces that it has purchased an additional 3,000,000 units of Continuum Resources Ltd. ("CNU: TSX-V") ("Continuum") for C$750,000. Each unit consists of one common share and one-half of one share purchase warrant. With this purchase, Agnico now holds 9,605,500 common shares and 6,310,250 warrants of Continuum. Each newly purchased share purchase warrant entitles the holder to purchase one additional common share of Continuum at a price of C$0.30 per warrant if exercised within the next year.
Agnico-Eagle now owns 19.24% of the outstanding common shares of Continuum, on a partially diluted basis. On a fully diluted basis, the Company owns 17.57% of the common shares. These shares were purchased for investment purposes and the aggregate totals C$2.25 million.
About Agnico-Eagle
Agnico-Eagle is a long established Canadian gold producer with operations located in Quebec and exploration and development activities in Canada, Finland, Mexico and the United States. Agnico-Eagle's LaRonde Mine is Canada's largest gold deposit in terms of reserves. The Company has full exposure to higher gold prices consistent with its policy of no forward gold sales. Agnico-Eagle has declared a cash dividend for 27 consecutive years.
