Under the terms of the subscription agreement dated July 23, 2026, Agnico Eagle will purchase shares at C$6.90 apiece. This investment pushes the Toronto-based mining major’s stake in Cadillac from approximately 9.70% to 11.09% on a non-diluted basis, following the completion of the IPO and other concurrent security issuances. The deal is contingent upon the successful closing of Cadillac’s offering.
Agnico Eagle Expands Stake in Cadillac Mines via C$60 Million Placement
Agnico Eagle Mines is deepening its footprint in the junior mining sector, agreeing to acquire 8,696,000 shares of Cadillac Mines Corporation for C$60 million. The transaction, slated to close around August 5, 2026, reinforces the gold giant’s strategy of securing high-potential geological assets during Cadillac’s concurrent initial public offering.
As part of the arrangement, Agnico Eagle has committed to a 180-day lock-up period, restricting the sale or hedging of its holdings once the IPO concludes. This move aligns with the company’s long-standing strategy of maintaining pro rata ownership in its strategic partners. While the firm currently intends to hold these shares, it reserved the right to adjust its position in the future based on evolving market conditions and internal strategic priorities.
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