TORONTO, Sept. 14, 2016 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM)(“Agnico Eagle”) announced today that, on September 14, 2016, it entered into a support agreement (the “Support Agreement”) with Orla Mining Ltd (“Orla”). The Support Agreement requires Agnico Eagle, subject to termination rights, to, among other things, vote all of the common shares (the “Pershimco Shares”) of Pershimco Resources Inc. (“Pershimco”) owned by Agnico Eagle in favour of the proposed plan of arrangement pursuant to which (i) Orla and Pershimco will amalgamate and (ii) each Pershimco shareholder will receive securities of the amalgamated entity in exchange for the Pershimco Shares owned by such shareholder (the “Arrangement”).
Agnico Eagle currently owns 52,754,243 Pershimco Shares, representing approximately 18.6% of the total issued and outstanding Pershimco Shares on a non-diluted basis.