Agnico Eagle and O3 Mining Issues a Reminder to O3 Mining Shareholders to Tender their Shares to Agnico Eagle's All Cash Offer Expiring January 23, 2025
Rhea-AI Summary
Agnico Eagle Mines has issued a reminder to O3 Mining shareholders regarding their all-cash tender offer of $1.67 per common share, set to expire on January 23, 2025. The offer represents a 58% premium over O3's closing price on December 11, 2024, and values the company at approximately $204 million on a fully diluted basis.
The offer has received unanimous recommendation from O3's board of directors and Special Committee. Notably, 39% of outstanding shares are already committed through lock-up agreements with directors, officers, and major shareholders. Shareholders are urged to tender their shares before the expiry time to ensure timely processing and payment.
Positive
- 58% premium offered over the December 11, 2024 closing price
- 39% of shares already secured through lock-up agreements
- Unanimous board recommendation supporting the offer
- $204 million total transaction value on fully diluted basis
Negative
- None.
News Market Reaction
On the day this news was published, OIIIF gained 0.24%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Offer is expiring on January 23, 2025
$1.67 58% premium to O3 Mining's closing price on December 11, 2024- Offer unanimously recommended by Board and Special Committee of O3 Mining
39% of outstanding shares of O3 Mining have signed Lock-up Agreements to tender to the Offer- Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com
Reasons to Tender
- Agnico is offering to acquire your shares for
$1.67 - The Offer represents a
58% premium to the closing price of the Common Shares prior to announcement of the Offer - Agnico and O3 entered into a definitive support agreement, pursuant to which Agnico agreed to offer to acquire all of the outstanding Common Shares in cash by way of a friendly take-over bid
- The Offer is valued at approximately
$204 million
Locked-Up Shareholders and O3 Board Recommendations
Agnico has entered into lock-up agreements with all directors and officers of O3 and several of O3's largest shareholders, representing approximately
In addition, the board of directors of O3 has unanimously recommended that shareholders tender their Common Shares to the offer (see How to Tender Your Shares below for details).
To ensure you do not miss out on the Offer, it is critical to tender your shares before 11:59 p.m. (EST) on January 23, 2025 (the "Expiry Time"). Shareholders are encouraged to act well in advance of the Expiry Time to ensure tender instructions are received in a timely manner.
If you have already tendered your shares no further action is required.
How to Tender Your Shares
Shareholder Type | How do I tender my Common Shares? |
Beneficial Shareholders – Most shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other intermediary, and you do not have a share certificate or DRS advice | Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer |
Registered Shareholders – You are a registered shareholder if you hold your Common Shares directly (through a share certificate, DRS advice or other method of direct ownership) | Contact Laurel Hill Advisory Group: Phone: 1-877-452-7184 (toll-free) |
If you have any questions or require any assistance with tendering your Common Shares to the Offer, please contact our Depositary and Information Agent:
Laurel Hill Advisory Group
North American Toll-Free: 1-877-452-7184
Outside
E-mail: assistance@laurelhill.com
Visit us at www.agnicoeagle.com/Offer-for-O3-Mining to receive the most up-to-date information about the Offer.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in
About Agnico Eagle Mines Limited
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in
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SOURCE O3 Mining Inc.
FAQ
What is the cash offer price per share for O3 Mining (OIIIF) by Agnico Eagle?
When does Agnico Eagle's tender offer for O3 Mining (OIIIF) expire?
What premium does Agnico Eagle's offer represent for O3 Mining (OIIIF) shareholders?
What percentage of O3 Mining (OIIIF) shares are committed through lock-up agreements?
What is the total value of Agnico Eagle's offer for O3 Mining (OIIIF)?
