Agnico Eagle invests C$8.25M in Fuerte Metals

Agnico Eagle (AEM) has acquired 5M subscription receipts issued by 1555489 B.C., a wholly-owned subsidiary of Fuerte Metals, pursuant to a brokered private placement, at a price of C$1.65 per Subscription Receipt for total consideration of C$8.25M. Each subscription receipt will automatically convert into one unit of Fuerte. Each unit will be comprised of one common share in the capital of Fuerte and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of C$2.50 for a period of five years from the date of issue. Prior to the placement, Agnico Eagle owned 5,171,310 common shares, representing approximately 8.43% of the issued and outstanding common shares on a non-diluted basis. Following the placement and the escrow release conditions, Agnico Eagle is expected to own 10,171,310 common shares and 5M Warrants, representing approximately 8.12% on a non-diluted basis and approximately 11.65% of the common shares on a partially-diluted basis.