Kirkland Lake Gold Ltd

Kirkland Lake Gold Ltd (ASX: KLA) is a low-cost gold producer, which operates in Canda and Australia. The company operates mainly through three mines Macassa Mine, Detour Lake Mine, and Fosterville Mine.

Key Highlights:

• Kirkland Lake Gold Ltd got delisted from the Australian Securities Exchange (ASX) with effect from the closing of the session on 9 February 2022. The said delisting follows the execution of plan of arrangement between the company and its shareholders with respect to the acquisition of all shares by Agnico Eagles Mines Limited.
• As announced on 26 November 2021, the shareholders of KLA approved the merger of equals, whereby shareholder of KLA to receive 0.7935 of Agnico share for each Kirkland share held. The consideration reflects a premium of 1% to the 10-Days VWAP on the Toronto Stock Exchange as on 24 September 2021.
• Agnico Eagle and KLA also received approval of FIRB for the proposed merger of equal between both companies. The said approval is final regulatory requirement in order to close the merger. Following this approval, KLA’s Chess Depository Interest (CDIs’) were suspended from trading at the close of session on 2 February 2022.
• Following the merger, the combined entity would continue under name ‘Agnico Eagles Mines Limited’. The merger is likely to develop Agnico Eagle as highest quality senior gold producer in Industry, with low unit costs, high margin and favourable risk profile.

Deal Summary (Source: Refinitiv)

Conclusion: The stock of KLA last traded on ASX on 2 February 2022, following the suspension from quotation. The company has been delisted on 9^th February 2022 from ASX, following the implementation of the plan of arrangement between KLA and its shareholders in connections with the acquisition of all issued capital in KLA by Agnico Eagle Mines Limited. Hence, considering the aforesaid arrangement and deal summary provided above, KLA position has been closed at $55.04.

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