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Goldcorp (T.G) says Agnico Eagle (T.AEM) will unload stake in Probe (V.PRB) for $43 million

Canadian Press, The Canadian Press

1 Comment| January 21, 2015

VANCOUVER _ Agnico Eagle Mines Ltd. (TSX: AEM, Stock Forum) has agreed to sell the equivalent of nearly 9.7 million shares of Probe Mines Ltd. (TSX: V.PRB, Stock Forum) to Goldcorp Inc. (TSX: G, Stock Forum), which is seeking to buy full control of the junior mineral exploration company.

Vancouver-based Goldcorp says it will pay about $43 million to Agnico Eagle under their agreement.

Toronto-based Agnico Eagle would sell 7.32 million common shares of Probe at $5 each and 2.35 million share purchase warrants for $2.90 each.

Each warrant entitles the holder to buy a Probe share for $2.10 until May 28, 2015. Goldcorp announced Monday that wants to buy full control of Probe and its Borden gold project in northwestern Ontario in a friendly takeover valued at $526 million.

Prior to the announcement, Goldcorp owned about 9.3 per cent of Probe's equity.

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