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Agnico Eagle Mines Announces Financing and Strategic Alliance with Cascadia Minerals
TORONTO, March 30, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") announced today that it has agreed to
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":" TORONTO, March 30, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (\"Agnico Eagle\" or the \"Company\") announced today that it has agreed to purchase 19,315,300 units (\"Units\") of Cascadia Minerals Ltd. (TSXV: CAM) (\"Cascadia\") at a price of C$0.26 per Unit for total consideration of C$5,021,978 under a non-brokered private placement (the \"Private Placement\"). Each Unit is comprised of one common share of Cascadia (a \"Common Share\") and one-half of one common share purchase warrant of Cascadia (each whole common share purchase warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.32 for a period of two years following the date of issuance. Agnico Eagle has also agreed to acquire 10,000,000 Units at a price of C$0.26 per Unit (the \"Unit Purchases\") for total consideration of C$2,600,000 from several sellers that will be participating in an offering of flow-through Units by Cascadia immediately prior to the Unit Purchases. The Private Placement and the Unit Purchases are subject to certain closing conditions, including approval of the TSX Venture Exchange, and are expected to close on or about April 17, 2026. Agnico Eagle does not currently own any Common Shares or Warrants. On closing of the Private Placement and the Unit Purchases, Agnico Eagle is expected to own 29,315,300 Common Shares and 14,657,650 Warrants, representing approximately 14.21% of the issued and outstanding Common Shares on a non-diluted basis and approximately 19.90% of the Common Shares on a partially-diluted basis (assuming exercise of the Warrants held by Agnico Eagle at such time). On closing of the Private Placement and the Unit Purchases, Agnico Eagle and Cascadia will enter into an investor rights agreement, pursuant to which Agnico Eagle will be entitled to certain rights, provided it maintains certain ownership thresholds in Cascadia, including: (a) the right to participate in equity financings or top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Cascadia or acquire up to a 19.99% ownership interest in Cascadia, in each case, at the time of such financing or dilutive issuance; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size o...