On December 12, 2024, Agnico Eagle Mines Limited (NYSE/TSX: AEM) announced its agreement to acquire O3 Mining Inc. (TSXV: OIII) for $1.67 per share in cash, valuing the deal at $204 million. The offer, representing a 57% premium to O3 Mining’s 20-day average share price, is set to close on January 23, 2025.

O3 Mining’s Marban Alliance property in Québec’s Abitibi region is expected to complement Agnico Eagle’s Canadian Malartic complex, creating significant synergies.

Legal advisors include Davies Ward Phillips & Vineberg LLP for Agnico Eagle, Bennett Jones LLP for O3 Mining, and Cassels Brock & Blackwell LLP for the O3 Mining Special Committee. Financial advisors are Edgehill Advisory Ltd. for Agnico Eagle, Maxit Capital for O3 Mining, and Fort Capital for the Special Committee.