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Agnico Eagle and Kirkland Lake Gold shareholders approve merger

Published by , Editor
Global Mining Review,

Agnico Eagle Mines Ltd has announced that at a special meeting of shareholders held on 26 November 2021, Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd by way of a plan of arrangement under the Business Corporations Act (Ontario) (the merger).

The resolution was approved by approximately 99.86% of the votes cast by Agnico Eagle shareholders at the Meeting, with a shareholder turnout of 69.62%.

In addition to the approval by Agnico Eagle shareholders, Kirkland Lake Gold shareholders approved the merger at the special meeting of Kirkland Lake Gold shareholders held on 26 November 2021.

“I would like to thank our shareholders and the shareholders at Kirkland Lake Gold for supporting the merger of the two companies. We are very excited about the transaction as it positions Agnico Eagle as the leading low risk global gold company with growing production, low costs and strong ESG leadership,” said Sean Boyd, Agnico Eagle's CEO. “Our near-term focus will be on completing the integration plan for the two companies while we await the final regulatory approvals. We look forward to providing additional information on the combined businesses once the transaction has been finalised, which is expected to occur in 1Q22.”

Completion of the merger is subject to the granting of the final order by the Ontario Superior Court of Justice (Commercial List) (the Court), approval of the Australian Foreign Investment Review Board (FIRB approval) and the satisfaction or waiver of other customary closing conditions. It is currently expected that the effective date of the merger will occur during 1Q22.

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Gold mining news Precious metals mining news Canadian mining news