VANCOUVER, Nov. 13, 2014 /PRNewswire/ - Cayden Resources
Inc. (TSX.V:CYD, OTCQX: CDKNF) ("Cayden" or the
"Company") is pleased to announce that Mexican anti-trust approval
has been obtained for 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 Mexican anti-trust
approval follows approval of the Arrangement by Cayden
securityholders and by the Supreme Court of British Columbia on October 27, 2014 and October 29, 2014, respectively.
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 the satisfaction of certain closing
conditions customary in a transaction of this nature. It is
currently expected that the transaction will be completed by the
end of this month.
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 of the
Arrangement and the expected timing thereof 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 and that no materially adverse change in respect of
Cayden has occurred. 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 Resources Inc.