DAILY NEWS Nov 29, 2012 3:58 PM - 0 comments

GOLD: Osisko locks up Queenston shares

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MONTREAL – Agnico-Eagle Mines of Toronto has agreed to sell its 4.8 million shares or 9.2% of Queenston Mining to Osisko Mining. Agnico-Eagle will receive $42.3 million for its shares.

Osisko has received lock-up agreements representing over 37% of the total number of Queenston shares. The acquisition will be completed by way of a court approved plan of arrangement, whereby Osisko will acquire each issued and outstanding share of Queenston in exchange for 0.611 of a common share of Osisko.

The acquisition requires regulatory approval. Please visit Osisko.com.

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