On 9 October 2025, Agnico Eagle Mines Limited announced a brokered private placement of 5,000,000 subscription receipts issued by 1555489 B.C. Ltd., a wholly‑owned subsidiary of Fuerte Metals Corporation. The receipts were sold at C$1.65 each, generating a total consideration of C$8,250,000. Upon satisfaction of the escrow release conditions, each receipt will convert into one unit of Fuerte, comprising one common share and one common‑share purchase warrant.
Prior to the placement, Agnico Eagle owned 5,171,310 common shares, representing approximately 8.43 % of the issued and outstanding shares on a non‑diluted basis. After the private placement and conversion, the company is expected to own 10,171,310 common shares and 5,000,000 warrants, equating to about 8.12 % non‑diluted and 11.65 % partially‑diluted ownership. The transaction is structured to allow Agnico Eagle to maintain its pro‑rata stake in future equity financings and to exercise board nomination rights under an existing investor‑rights agreement.
The investment aligns with Agnico Eagle’s strategy of acquiring strategic positions in projects with high geological potential. By holding a significant stake in Fuerte, Agnico Eagle gains exposure to the company’s planned acquisition of certain properties, which may result in the issuance of up to 33,572,115 common shares as part of the transaction. The arrangement also provides Agnico Eagle with the right to participate in future equity issuances and to nominate board members if Fuerte’s board expands beyond eight directors.
This private placement represents a tangible expansion of Agnico Eagle’s portfolio of high‑quality internal growth projects. The transaction provides immediate capital to Fuerte while granting Agnico Eagle a foothold in a company positioned to develop new gold assets, thereby reinforcing Agnico Eagle’s long‑term value creation strategy.
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