Canadian Mining Journal

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GOLD: Osisko arrangement receives court approval

MONTREAL – The courts have given their final approval, subject to remaining closing conditions, to the deal that will see Osisko Mining Corp. acquired by Agnico Eagle Mines and Yamana Gold. The effective date of the deal is to be June 16,...


MONTREAL – The courts have given their final approval, subject to remaining closing conditions, to the deal that will see Osisko Mining Corp. acquired by Agnico Eagle Mines and Yamana Gold. The effective date of the deal is to be June 16, 2014.

Under the arrangement, each outstanding common share of Osisko will be exchanged for C$2.09 in cash, 0.07264 of a common share of Agnico Eagle, 0.26471 of a common share of Yamana, and one common share (0.10 of a common share on a consolidated basis) of a newly formed company that will acquire certain assets of Osisko as part of the arrangement (Osisko Gold Royalties Ltd).

Meanwhile, Osisko reported record monthly gold production of 51,114 oz in May. The total included a record for daily production on May 14 – 2,718 oz.

Shareholders can find more information about the Osisko-Agnico-Yamana deal at Osisko.com.