Published on 29 Feb 2024 on Zacks via Yahoo Finance

Agnico Eagle (AEM) Acquires 11% Stake in Prism Resources

Agnico Eagle Mines Limited AEM has completed the acquisition of 5,750,000 common shares of Prism Resources Inc. from Trevali Mining Corporation. The transaction took place at a price of roughly C$0.0174 per common share, amounting to a total consideration of C$100,000 (approximately $74,750). This acquisition was made pursuant to a share purchase agreement dated Feb 13, 2024, between Agnico Eagle and FTI Consulting Canada Inc., acting as the court-appointed monitor of Prism.

Prism holds a 7.5% Net Profit Interest royalty on the Aurora and Sunday Lake claims, which are part of Agnico Eagle's Detour Lake mine property, encompassing Zone 58N and other promising geological targets.

Investment purposes drive Agnico Eagle's acquisition of the Common Shares. The company may, depending on market conditions and other pertinent factors, consider acquiring additional common shares or other securities of Prism. It may also choose to dispose of some or all of the common shares or other securities of Prism that it currently holds.