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Agnico Eagle investing C$4.5M in Cartier Resources

Agnico Eagle Mines Ltd. will invest C$4.5 million in Cartier Resources Inc. by purchasing 22.5 million shares at 20 Canadian cents each through a nonbrokered private placement.

After closing, expected Dec. 22, Agnico will own about 19.97% of Cartier on a nondiluted basis.

Agnico will have the right to nominate one member to Cartier's board, according to a Dec. 19 news release.

In November, Agnico struck a deal to acquire 19.9% of G4G Capital Corp. at C$1.20 per share.