OTTAWA (dpa-AFX) - Agnico Eagle Mines Limited (AEM, AEM.TO), a Canadian gold miner, said that it has inked a subscription deal with Radisson Mining Resources Inc. (RDS.V) to acquire 53,420,000 units of Radisson at C$1.07 per unit for a total consideration of C$57.159 million in a private placement.
'Agnico Eagle is acquiring the common shares and warrants as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential,' the gold miner said.
Each unit is comprised of one class A share of Radisson and one-half of one common share purchase warrant of Radisson. Each warrant entitles the holder to acquire one share at a price of C$1.39 for a period of sixty months following the closing date of the private placement.
The private placement is expected to close on or about September 2. Post transaction, Agnico Eagle is expected to own 53.420 million shares and 26.710 million warrants, representing around 10.45% of the issued and outstanding shares on a non-diluted basis and approximately 14.90% of the shares on a partially-diluted basis.
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