03:51 PM EST, 12/12/2024 (MT Newswires) -- Agnico Eagle Mines ( AEM ) and and O3 Mining ( OIIIF ) in a joint release on Thursday said Gold Fields ( GFI ) , O3's largest shareholder, agreed to tender its shares in the company to Agnico's $204-million friendly acquisition offer.

Agnico Eagle earlier Thursday said it agree to acquire 03 for $1.67 per share, a 57% premium to its 20-day volume weighted average price.

Gold Fields ( GFI ) owns about 17% of O3's shares. Including its lock-up agreement with Gold Fields ( GFI ), Agnico Eagle has now entered into lock-up agreements with O3 Mining ( OIIIF ) shareholders holding a combined 39% stake.

O3 Mining ( OIIIF ) shares were last seen up $0.59, or 57%, to $1.65 on the TSX Venture Exchange.

Price: 120.84, Change: -2.92, Percent Change: -2.36