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.