Agnico Eagle Mines (NYSE:AEM) has completed its acquisition of Rupert Resources (TSX:RUP), gaining full control of the Ikkari Gold Project in Finland.
The arrangement sees each Rupert share exchanged for 0.0401 of an Agnico Eagle share, plus contingent consideration of up to C$3 ($3.03) through a contingent value right (CVR) payable over 10 years upon achieving certain milestones.
CVRs represent the first of their kind listed on the TSX under the exchange’s sandbox program for novel securities.
This acquisition adds the Ikkari Gold Project in Finland’s central Lapland greenstone belt to Agnico Eagle’s portfolio.
The transaction strengthens Agnico Eagle’s presence in Finland, where the company already operates mining assets, and adds a development-stage gold project to its pipeline of growth opportunities across established mining jurisdictions.
Agnico Eagle Mines operates mines across Canada, Australia, Finland, and Mexico and ranks as the world’s second-largest gold producer.
Write to JC Villarba at Mining.com.au
Images: Agnico Eagle Mines
