Agnico Eagle to acquire O3 Mining for CAD204m.

Agnico Eagle, a Canadian-based gold producer with operations in Canada, Finland, Australia and Mexico, agreed to acquire O3 Mining, a gold explorer and mine developer, for CAD204m. "The all-cash offer at a significant premium to market is an excellent outcome for our shareholders and is validation of the efforts made by the O3 Mining team. Having diligently advanced the Marban Alliance project over the past five years, the timing is right for O3 Mining to sell to a more experienced operator that can efficiently navigate the project through permitting and construction. This represents a substantial non-dilutive alternative to shareholders. We believe Agnico Eagle is the gold standard in the precious metals space – it not only has the financial strength and the mining expertise to advance the Marban Alliance project, but shares our commitment to work in partnership with stakeholders in a socially responsible manner," José Vizquerra, O3 Mining President and CEO.