An anonymous director of Agnico Eagle reports
AGNICO EAGLE COMPLETES ACQUISITION OF URASTAR
Agnico Eagle Mines Ltd. and Urastar Gold Corp. have completed the acquisition of Urastar by
Agnico Eagle. Agnico Eagle acquired all of the issued and outstanding
common shares of Urastar pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia) involving Urastar, Agnico Eagle, holders of common shares of Urastar, holders of common share purchase warrants of Urastar and holders of options of Urastar. Urastar is now a wholly owned subsidiary of Agnico Eagle.
The arrangement was approved at a special meeting held on May 14, 2013,
by 99.76 per cent of the securityholders, voting together as a single class,
and by 99.64 per cent of the shareholders after excluding votes required to be
excluded in accordance with Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Final approval for the arrangement was obtained from the Supreme Court
of British Columbia on May 15, 2013.
Under the terms of the arrangement, each shareholder will receive in
exchange for each common share held, 25 cents in cash. Holders of
in-the-money warrants that have not otherwise exercised their
in-the-money-warrants will receive 15 cents in cash for each
in-the-money-warrant held. Out-of-the-money warrants and options will
be cancelled as part of the arrangement. Registered shareholders and
in-the-money warrantholders should follow the instructions contained in
Urastar's management information circular dated April 8, 2013, in order to receive the consideration to which they are entitled
pursuant to the arrangement.
Agnico Eagle intends to cause Urastar to take the necessary steps to
delist the common shares from the TSX Venture Exchange and to cause Urastar to apply to the relevant securities commissions
for Urastar to cease to be a reporting issuer under Canadian securities
laws.
We seek Safe Harbor.
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