08:32 AM EDT, 06/24/2024 (MT Newswires) -- Agnico Eagle Mines ( AEM ) said on Monday that it bought about 33.8 million Maple Gold Mines ( MGMLF ) common shares on June 21 at $0.085 apiece for about $2.9 million.

The sellers had acquired the shares in connection with an offering of flow-through common shares issued by Maple.

Agnico Eagle boosted its stake in Maple to 20% from 12%. The company said it bought the shares as an investment.

The company's stock, which fell 1.3% in Canada on Friday, gained over 1% in premarket US trading on Monday.