Agnico Eagle Secures Majority Stake in O3 Mining, Extends Offer Deadline

2025-01-27 10:09:09 ET

Agnico Eagle Mines ( TSX : AEM ,NYSE:AEM) now holds approximately 94.1 percent of O3 Mining's (TSXV:OIII,OTCQX:OIIIF) outstanding shares as the company continues its bid to acquire O3 Mining.

To secure the 94.1 percent stake, Agnico Eagle acquired 110,424,431 O3 Mining shares for total consideration of US$184.4 million. Payment for these shares is expected to be completed by January 28, 2025.

The company has also extended its O3 Mining offer deadline by 10 days to 11:59 p.m. EST on February 3, 2025, providing remaining shareholders additional time to tender their shares.

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