Agnico Eagle Completes Sale of Common Shares of Belo Sun Mining Corp.
AGNICO EAGLE COMPLETES SALE OF
COMMON SHARES OF BELO SUN MINING CORP.
Toronto ( April 20, 2018) – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM)
("Agnico Eagle" or the "Company") announced today that it has disposed of 44,551, 000
common shares of Belo Sun Mining Corp. ("Belo Sun") in a pre -arranged trade
executed through the facilities of the Toronto Stock Exchange (the "TSX"). The sale
price was C$0.335 per common share (the 30-day volume weighted average price of
the common shares of Belo Sun on the TSX at the time of the trade), for aggregate
proceeds of C$14,924,585.
The Company reviews its portfolio of equity investments in junior mining companies on
an ongoing basis. The Company completed the disposition in order to monetize a non-
core asset held in its portfolio.
Immediately prior to the disposition, Agnico Eagle owned 89,102,760 common shares of
Belo Sun, representing approximately 19.14 % of the issued and outstanding common
shares of Belo Sun on a non- diluted basis. Following the disposition, Agnico Eagle
owns 44,551,760 common shares of Belo Sun, representing approximately 9.57% of the
issued and outstanding common shares of Belo Sun on a non-diluted basis.
In connection with the disposition, Agnico Eagle granted to the purchaser an option (the
"Option") to acquire, through the facilities of the TSX, the remaining 44,551, 760
common shares of Belo Sun currently owned by Agnico Eagle. The Option is
exercisable for 60 days from the date hereof at the then-applicable price of the common
shares of Belo Sun on the TSX . If the Option is not exercised prior to its expiry, Agnico
Eagle intends to dispose of the remaining common shares of Belo Sun in an orderly
fashion as market condit ions permit . If Agnico Eagle is unable to sell the common
shares at prices and on terms acceptable to it, it may continue to hold the common
shares until such time as it is able to do so.
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An early warning report will be filed by Agnico Eagle in accordance with applicable
securities laws. To obtain a copy of the early warning report, please contact:
Aurea Dela Resma
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto,
Ontario M5C 2Y7. Belo Sun's head office is located at 65 Queen Street West, Suite
815, Toronto, Ontario M5H 2M5.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has produced precious
metals since 1957. Its eight mines are located in Canada, Finland and Mexico, with
exploration and development activities in each of these countries as well as in the
United States and Sweden. Agnico Eagle and its shareholders have full exposure to
gold prices due to its long -standing policy of no forward gold sales. Agnico Eagle has
declared a cash dividend every year since 1983.
Forward-Looking Statements
The information in this news release has been prepared as at April 20, 2018. Certain
statements in this news release, referred to herein as "forward- looking statements",
constitute "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward -looking information" under the
provisions of Canadian provincial securities laws. These statements can be identified
by the use of words such as "may", "will" or similar terms.
Forward-looking statements in this news release include, without limitat ion, statements
relating to Agnico Eagle's disposition of common shares of Belo Sun in the future.
Forward-looking statements are necessarily based upon a number of factors and
assumptions that, while considered reasonable by Agnico Eagle as of the date of such
statements, are inherently subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and unknown, could cause
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actual results to be materially different from those expressed or implied by such
forward-looking statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date made. Other than as
required by law, Agnico Eagle does not intend, and does not assume any obligation, to
update these forward-looking statements.