AEM - Agnico Eagle Mines intends to make normal course issuer bid

The Toronto Stock Exchange approved Canadian gold mining company, Agnico Eagle Mines' (NYSE:AEM), intent to make a normal course issuer bid, or NCIB. Agnico Eagle may purchase shares for cancellation from May 4, 2022, to May 3, 2023. The volume of purchase is up to the lesser of 5% of the issued and outstanding shares and that number of shares that can be purchased for an aggregate purchase price, excluding commissions, of not more than $500M, subject to the normal terms and limitations of such bids. Based on the Apr. 28 closing price of $55.85, 8,952,551 shares would be purchasable under the issuer bid, representing ~1.96% of the issued and outstanding shares. As of Apr. 28, Agnico Eagle had 455,706,160 issued and outstanding shares. Daily purchases will be limited to 341,828 shares on the TSX. The issuer bid will be funded using Agnico Eagle's existing cash resources. Shares were trading -2.11% pre-market.

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Agnico Eagle Mines intends to make normal course issuer bid