07:43 AM EDT, 06/14/2019 (MT Newswires) -- Gold producer Agnico Eagle Mines (AEM.TO) said late Thursday that it has offered to buy Alexandria Minerals (AZX.V) for $26 million to "consolidate an additional 14,819 hectares of mining claims that cover approximately 35 kilometers of strike length along the Cadillac-Larder Lake break in the prospective Val d'Or gold camp."

Under the proposal, each shareholder of Alexandria would have the option to receive for each Alexandria share $0.05 in cash or 0.000819355 common shares of Agnico Eagle plus $0.000001 or 0.000819355 Agnico shares.

Alexandria's board has determined Agnico's offer to be the superior offer as defined in the arrangement agreement between Alexandria and Chantrell Ventures.

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