Canadian gold producer Agnico Eagle Mines Ltd. has offered C$26 million ($19.4 million) to purchase peer Alexandria Minerals Corp.
Under the deal, Agnico Eagle Mines has agreed to buy all Alexandria's issued and outstanding common shares at $0.037 per issued and outstanding Alexandria share.
With the deal, Agnico Eagle will consolidate an additional 14,819 hectares of mining claims that cover circa 35 kilometres of strike length along the Cadillac- Larder Lake break in the prospective Val d'Or gold camp.
The proposed acquisition of Alexandria, which has a market capitalization of over $11 billion, would offer certainty of value to the company's shareholders.