Agnico Eagle Mines Limited completes acquisition of TMAC Resources Inc.

TMAC Resources Inc. is pleased to announce on February 2, 2021 that it has concluded the previously announced plan of arrangement pursuant to which Agnico Eagle Mines Limited has acquired all of the issued and outstanding common shares of the company. TMAC is now a wholly-owned subsidiary of Agnico Eagle.

As a result of the transaction, the common shares are expected to be delisted from the Toronto Stock Exchange after the close of trading on February 3, 2021 and Agnico Eagle will apply to the relevant securities commissions for the company to cease to be a reporting issuer under Canadian securities laws.

“I would like to thank the TMAC employees and contractors for their hard work and dedication in 2020 as we worked through the uncertainties of the sale of TMAC, while concurrently improving our safety performance and productivity,” said Jason Neal, the former president and chief executive officer of TMAC. “Agnico Eagle is one of the strongest gold producers internationally, a Canadian champion and has been operating in Nunavut for more than a decade with a great track record with communities, employees, and the environment. I am very pleased to welcome Agnico Eagle to Hope Bay and the Kitikmeot region.”

Dominique Girard, Agnico Eagle’s senior vice-president operations, Canada and Europe, stated, “We are very pleased to welcome TMAC and the Hope Bay team to the Agnico Eagle family. The transition process has already begun, and we look forward to building on the successes achieved by TMAC in the Kitikmeot region of Nunavut, creating a great place to work and contributing positively to the communities.”


Submit a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

February 4, 2021

Read the latest issue!