Agnico Eagle Participates IN Orla Mining Ltd. Financing
(All amounts expressed in Canadian dollars unless otherwise noted)
AGNICO EAGLE PARTICIPATES IN ORLA MINING LTD. FINANCING
Toronto ( February 15 , 2018) – Agnico Eagle Mines Limited (NYSE: AEM, TSX:
AEM) ("Agnico Eagle") announced today that it has acquired 1,740,500 units ("Units") of
Orla Mining Ltd. (TSX-V: OLA) ("Orla") at a price of $1.75 per Unit for total consideration
of $3,045,875. Each Unit is comprised of one common share of Orla (a "Common
Share") and one-half of one common share purchase warrant of Orla (each full common
share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one
Common Share at a pri ce of $2.35 at any time prior to February 15, 2021. Agnico
Eagle acquired the Units pursuant to a public offering of Units by Orla under a short
form prospectus (the "Offering"). The Offering closed on February 15, 2018.
Prior to the closing of the Offer ing, Agnico Eagle owned 15,873,335 Common Shares,
representing approximately 9.86% of the issued and outstanding Common Shares on a
non-diluted basis . Upon closing of the Offering, Agnico Eagle owns 17,613,835
Common Shares and 870,250 Warrants, represent ing approxim ately 9.86% of the
issued and outstanding Common S hares on a non- diluted basis and approximately
10.30% of the issued and outstanding Common Shares on a partially -diluted basis
assuming exercise of the Warrants held by Agnico Eagle.
Agnico Eagle and Orla are party to a participation right agreement dated January 26,
2018 pursuant to which Agnico Eagle has the right, provided Agnico Eagle owns at least
a 5% interest in Orla (calculated in accordance with the participation right agreement),
to participate in certain equity financings by Orla in order to maintain its then-applicable
ownership interest in Orla (calculated in accordance with the participation right
agreement).
Agnico Eagle acquired the Common Shares and the Warrants for investment purposes.
Depending on market conditions and other factors, Agnico Eagle may, from time to
time, acquire additional Common Shares, common share purchase warrants or other
securities of Orla or dispose of some or all of the Common Shares, common share
purchase warrants or other securities of Orla that it owns at such time.
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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. Orla's head office is located at 1140 West Pender Street, Suite
1240, Vancouver, British Columbia V6E 4G1.
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 February 15, 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 limitation, statements
relating to Agnico Eagle's acquisition or disposition of securities of Orla 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 stat ements. 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.