VANCOUVER, Oct. 29, 2014 /PRNewswire/ - Cayden
Resources Inc. (TSX.V:CYD, OTCQX: CDKNF) ("Cayden" or
the "Company") is pleased to announce that it has obtained a final
order from the Supreme Court of British
Columbia approving its previously announced plan of
arrangement (the "Arrangement") with Agnico Eagle Mines Limited
(NYSE:AEM, TSX:AEM) ("Agnico Eagle") pursuant to which Agnico Eagle
will acquire all of the issued and outstanding common shares of
Cayden, including common shares issuable on the exercise of
outstanding options and warrants of Cayden. Receipt of the final
order follows Cayden's special meeting of securityholders held on
October 27, 2014 where the special
resolution approving the Arrangement was approved by 99.0% of the
votes cast by securityholders.
Under the Arrangement, Cayden shareholders will be entitled to
receive 0.09 of an Agnico Eagle share and C$0.01 for each Cayden common share held. The
Arrangement remains subject to Mexican anti-trust approval and the
satisfaction of other closing conditions customary in a transaction
of this nature. Cayden and Agnico Eagle continue to actively pursue
the receipt of Mexican anti-trust approval. It is currently
expected that, subject to receipt of all approvals, the transaction
will close around the end of 2014.
Full details of the Arrangement and certain other matters are
set out in the management information circular of Cayden dated
September 26, 2014 (the "Information
Circular"). A copy of the Information Circular and other meeting
materials can be found on Cayden's website at
www.caydenresources.com or on SEDAR at www.sedar.com.
About Cayden
Cayden is a Canadian based exploration company focused on the
discovery, financing, and monetization of precious metal assets in
two favorable mining jurisdictions in Mexico. The management team of Cayden is
highly experienced and has a record of success in the mineral
exploration business. For further information regarding Cayden,
contact Ivan Bebek - President and
CEO, or Jay Adelaar, Manager of
Investor Relations, at (778) 729-0600 or visit
www.caydenresources.com.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has
produced precious metals since 1957. Its nine mines are located in
Canada, Finland and Mexico, with exploration and development
activities in each of these regions as well as in the United States. 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.
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward-looking information", as
such term is defined in applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "pro-forma", "expects",
"believes", "anticipates", "budget", "scheduled", "estimates",
"forecasts", "intends", "plans" and variations of such words and
phrases, or by statements that certain actions, events or results
"may", "will", "could", "would" or "might", "be taken", "occur" or
"be achieved". Such forward-looking information may include,
without limitation, statements regarding the completion and
expected benefits of the proposed transaction and other statements
that are not historical facts. Forward-looking information is based
on a number of assumptions and estimates that, while considered
reasonable by management based on the business and markets in which
Cayden operates, are inherently subject to significant operational,
economic and competitive uncertainties and contingencies.
Assumptions upon which forward looking information relating to the
proposed transaction have been made include that Cayden and Agnico
Eagle will be able to satisfy the conditions in the Arrangement
Agreement, that no materially adverse change in respect of Cayden
has occurred and that regulatory and government approvals will be
obtained. Cayden cautions that forward-looking information involves
known and unknown risks, uncertainties and other factors that may
cause Cayden's actual results, performance or achievements to be
materially different from those expressed or implied by such
information, including, but not limited to: gold price volatility;
fluctuations in foreign exchange rates and interest rates,
between actual and estimated reserves and resources or between
actual and estimated metallurgical recoveries; costs of production;
capital expenditure requirements; the costs and timing of
construction and development of new deposits and expansion of
existing operations; the success of exploration and permitting
activities; parts, equipment, labour or power shortages or other
increases in costs; mining accidents, labour disputes or other
adverse events; and changes in applicable laws or regulations. In
addition, the factors described or referred to in the Company's
Annual Information Form for the year ended December 31, 2013, which is available on the
SEDAR website at www.sedar.com, should be reviewed in conjunction
with the information found in this press release. Although Cayden
has attempted to identify important factors that could cause actual
results, performance or achievements to differ materially from
those contained in forward-looking information, there can be other
factors that cause results, performance or achievements not to be
as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate or that
management's expectations or estimates of future developments,
circumstances or results will materialize. As a result of these
risks and uncertainties, the proposed transaction could be
modified, restricted or not completed, and the results or events
predicted in these forward looking statements may differ materially
from actual results or events. Accordingly, readers should not
place undue reliance on forward-looking information. The
forward-looking information in this press release is made as of the
date of this press release, and Cayden disclaims any intention or
obligation to update or revise such information, except as required
by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Cayden Resoruces Inc.