World's Third Largest Gold Miner Betting Big on Nickel

The world's third largest gold miner Agnico Eagle Mines (AEM) announced last night that it has purchased a 12% stake in Canada Nickel Company (TSXV: CNC) for its large, prospective land package and portfolio of early-stage nickel-sulfide deposits located in northern Ontario.

Here is a map of Canada Nickel Company (TSXV: CNC)'s nickel projects vs. Noble Mineral Exploration (TSXV: NOB)'s nickel projects:

Not only is NOB the largest owner of properties surrounding CNC, but NOB owns stock in CNC and NOB owns 2% NSR royalties in three CNC nickel projects!

Less than two weeks ago, NIA sent out an alert entitled, 'NOB Will Be On Everyone's Lips in 2024'.

Click here to read NIA's December 17th NOB alert! People continue to doubt us, but we are almost always proven right!


TORONTO, Dec. 29, 2023 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it acquired 19,600,000 units ("Units") of Canada Nickel Company Inc. (TSXV: CNC) ("Canada Nickel") at a price of $1.18 per Unit for total consideration of approximately $23,128,000 from several sellers that acquired the Units in connection with an offering of flow-through Units by Canada Nickel (the "Share Purchases"). Each Unit was comprised of one common share of Canada Nickel (a "Common Share") and 0.35 of one common share purchase warrant of Canada Nickel (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $1.77 at any time prior to December 29, 2026, subject to acceleration of the expiry date upon the occurrence of certain events.

Agnico Eagle has spent approximately two years evaluating the critical minerals sector, focusing on Canada and the regions where it operates, where the Company believes it has a competitive advantage. Agnico Eagle's investment in Canada Nickel represents an early stage investment in this growing sector. Canada Nickel's large, prospective land package and portfolio of early-stage nickel-sulphide deposits are located in northern Ontario, in close proximity to Agnico Eagle's operations in the Abitibi region of Ontario and Quebec. Canada Nickel's Crawford Nickel-Cobalt Sulphide Project has a large nickel resource and is expected to have a low carbon footprint. Aligning with Agnico Eagle's well-established strategy of early-stage project investments, this investment represents an opportunity to establish a presence in an emerging nickel belt and monitor both the project's progress and emerging technologies relevant to its development.

Prior to the Share Purchases, Agnico Eagle did not own any Common Shares. Following the Share Purchases, Agnico Eagle owns 19,600,000 Common Shares and 6,860,000 Warrants, representing approximately 12% of the issued and outstanding Common Shares on a non-diluted basis and 15.6% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise of the Warrants).

Concurrently with the Share Purchases, Agnico Eagle and Canada Nickel entered into an investor rights agreement, pursuant to which Agnico Eagle is entitled to certain rights, provided Agnico Eagle maintains certain ownership thresholds in Canada Nickel, including: (a) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership interest in Canada Nickel at the time of such financing or acquire up to a 15.6% ownership interest, on a partially diluted basis, in Canada Nickel; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person to the board of directors of Canada Nickel.

Agnico Eagle acquired the Common Shares and the Warrants for investment purposes.  Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, common share purchase warrants or other securities of Canada Nickel or dispose of some or all of the Common Shares, common share purchase warrants or other securities of Canada Nickel that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Agnico Eagle Mines Limited
c/o Investor Relations
145 King Street East, Suite 400
Toronto, Ontario  M5C 2Y7
Telephone:  416-947-1212

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Canada Nickel's head office is located at 130 King Street West, Suite 1900, Toronto, Ontario  M5X 1E3.

About Agnico Eagle

Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from NOB of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.