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Agnico Eagle and Kirkland Lake Gold complete merger, creating the top 3 gold producer

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(Kitco News) - Agnico Eagle Mines (TSX:AEM) and Kirkland Lake Gold (TSX:KL) today announced the successful completion of the previously announced merger of equals transaction.

The combined company will continue as Agnico Eagle Mines Limited and will remain listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) under the ticker "AEM".

According to a statement, in aggregate, Agnico Eagle issued approximately 209,274,263 common shares to former Kirkland Lake Gold shareholders as consideration for their shares. At the opening of markets today, the new Agnico Eagle had a market capitalization of approximately US$22.4 billion.

The combined company will be led by Sean Boyd, as Executive Chair, Anthony Makuch, as Chief Executive Officer and Ammar Al-Joundi, as President.

The shares of Kirkland Lake Gold are expected to be de-listed from the TSX on or about the closing of trading on February 9, 2022 and from the NYSE on or about the opening of trading on February 9, 2022.

The new Agnico Eagle is the third largest gold mining company by output, producing precious metals from operations in Canada, Australia, Finland and Mexico.

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