Grayd VP Exploration Hans Smit on $275M acquisition by Agnico-Eagle

Agnico-Eagle Mines Ltd TSX:AEM and Grayd Resource Corp TSXV:GYD announced Agnico-Eagle’s acquisition of Grayd. Under the agreement Agnico-Eagle will offer $2.80 per share for all of Grayd’s outstanding common shares. The transaction is valued at approximately $275 million on a fully-diluted basis. The offer of $2.80 per share represents a premium of 65.7% to the volume-weighted average price of Grayd shares for the 20-day period ending Sept. 16, 2011.

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