Agnico-Eagle completes compulsory acquisition of remaining Cumberland common shares
09 Julio 2007 - 11:26AM
PR Newswire (US)
Stock Symbol: AEM (NYSE and TSX) TORONTO, July 9
/PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited
("Agnico-Eagle") announced today that its wholly-owned subsidiary,
Agnico-Eagle Acquisition Corporation, has completed the compulsory
acquisition of 6,624,271 common shares of Cumberland Resources Ltd.
("Cumberland") not acquired pursuant to the take-over bid initiated
on March 12, 2007. It is expected that the consideration for the
Cumberland share certificates deposited to date will be mailed to
the depositing shareholders this week. Cumberland is now a
wholly-owned indirect subsidiary of Agnico-Eagle. It is expected
that Cumberland's common shares will be delisted from the Toronto
Stock Exchange at the close of business (Toronto time) on July 10,
2007 and trading of Cumberland's common shares on the American
Stock Exchange will be suspended prior to the commencement of
trading on July 10, 2007. Cumberland will make applications to
cease to be a reporting issuer in Canada and the United States as
soon as reasonably practicable. About Agnico-Eagle Agnico-Eagle is
a long established Canadian gold producer with operations located
in Quebec and exploration and development activities in Canada,
Finland, Mexico and the United States. Agnico-Eagle's LaRonde Mine
is Canada's largest gold deposit in terms of reserves. The Company
has full exposure to changes in gold prices consistent with its
policy of no forward gold sales. It has paid a cash dividend for 25
consecutive years. DATASOURCE: Agnico-Eagle Mines Limited CONTACT:
David Smith; VP, Investor Relations, (416) 947-1212
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