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Agnico Eagle Mines Acquires 5M Subscription Receipts Issued By Fuerte Metals' Unit For CA$8.3M

Author: Benzinga Newsdesk | October 09, 2025 09:19am

TORONTO, Oct. 9, 2025 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has acquired 5,000,000 subscription receipts (the "Subscription Receipts") issued by 1555489 B.C. Ltd., a wholly-owned subsidiary of Fuerte Metals Corporation ("Fuerte"), pursuant to a brokered private placement, at a price of C$1.65 per Subscription Receipt for total consideration of C$8,250,000 (the "Private Placement").

The investment in Fuerte is consistent with Agnico Eagle's historical practice of strategic equity investments in projects with high geological potential. Agnico Eagle continues to focus on its portfolio of high-quality internal growth projects, and complements its pipeline of projects with a strategy of acquiring strategic positions in prospective opportunities with high geological potential.

Upon satisfaction of the escrow release conditions set out in the subscription receipt indenture (the "Escrow Release Conditions"), each Subscription Receipt will automatically convert into one unit of Fuerte (a "Unit"). Each Unit will be comprised of one common share in the capital of Fuerte (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price of C$2.50 for a period of five years from the date of issue. One of the Escrow Release Conditions is the completion of the acquisition of certain properties by Fuerte, and in connection with such acquisition, Fuerte intends to issue, as partial consideration therefor, up to 33,572,115 Common Shares (or securities convertible into Common Shares) (the "Transaction").

Posted In: AEM

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