Proceedings

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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED  

- and-  

IN THE MATTER OF
AGNICO-EAGLE MINES LIMITED

O R D E R
(Sections 127 and 127.1)

WHEREAS on April 22, 2005, the Ontario Securities Commission issued a Notice of Hearing pursuant to sections 127(1) and 127.1 of the Securities Act in respect of Agnico-Eagle Mines Limited ("Agnico-Eagle");

AND WHEREAS Agnico-Eagle entered into a settlement agreement with Staff of the Commission dated April 25, 2005 (the "Settlement Agreement") in which it agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing, subject to approval of the Commission;

AND WHEREAS Staff recommend approval of the Settlement Agreement;

UPON reviewing the Settlement Agreement and the Notice of Hearing and upon hearing the submissions of Staff and counsel for Agnico-Eagle;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED THAT:

  1. the Settlement Agreement attached to this Order is hereby approved;
  2. pursuant to clause 4 of subsection 127(1) of the Act, Agnico-Eagle will initiate a review of its disclosure and reporting practices and procedures by an independent third party, acceptable to both Agnico-Eagle and Staff, at the expense of Agnico-Eagle; and
  3. pursuant to clause 4 of subsection 127(1) of the Act, Agnico-Eagle will implement any recommendations made by the independent third party referred to above that are approved by Staff, within a reasonable period of time, as approved by Staff.

DATED at Toronto this 28th day of April, 2005

 

“Wendell Wigle”
Wendell S. Wigle
“Suresh Thakrar”
“Robert Davis ”
Suresh Thakrar
Robert W. Davis