Owners
Kirkland Lake Gold - owns and operates several gold mines in Canada and Australia.
History
2021: Agnico Eagle bought Kirkland Lake Gold
On September 28, 2021, gold mining companies Agnico Eagle Mines and Kirkland Lake Gold agreed to merge. Under the deal announced, Kirkland Lake Gold shareholders will receive 0.7935 shares of Agnico Eagle Mines for each share.
The new Agnico Eagle Mines will be led by a joint board and management team comprising seven directors from Agnico Eagle Mines and six from Kirkland Lake Gold. Agnico Eagle Mines CEO Sean Boyd will become executive chairman of the board of directors, and Tony Macuch, CEO of the combined Kirkland Lake Gold company.
The transaction creates a company with a strong platform of people, assets and financial resources to continue the construction and operation of a long-term sustainable and self-financed business. Kirkland Lake Gold fits perfectly into the culture of Agnico Eagle Mines, we look forward to working together for further growth through exploration, mine development and optimization of the company's high-quality asset base. Agnico Eagle Mines owns mines in Canada, Finland and Mexico, as well as exploration and development of deposits in the USA and Colombia.
 | The transaction is a real merger of equals, as a result of which the business of both companies will benefit from the significant financial power of the combined company, an extensive portfolio of field development and exploration projects to ensure future growth, as well as the potential to realize significant operational and strategic synergies within the Abitibi Kirkland Lake green stone belt, "said Kirkland Lake Gold CEO Tony Makuch in a statement. |  |
Existing shareholders of Agnico Eagle Mines will own 54% of the shares of the combined company, and shareholders of Kirkland Lake Gold 46%. The transaction requires approval by a two-thirds majority vote of Kirkland Lake Gold shareholders and a simple majority vote of Agnico Eagle Mines shareholders.[1]
Notes
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