Agnico Eagle to subscribe for 33,869,939 units of Atex Resources

Agnico Eagle (AEM) Mines announced that it has agreed to subscribe for 33,869,939 units of Atex Resources in a non-brokered private placement at a price of C$1.63 per unit for total consideration of $40M, or about C$55.2M. Each Unit is comprised of one common share of Atex and one-half of one common share purchase warrant of Atex. Each Warrant entitles the holder to acquire one Common Share at a price of C$2.50 for a period of five years following the closing date of the private placement, subject to acceleration in certain circumstances. Closing is expected to occur on or about October 30 and is subject to certain conditions.