Agnico Eagle Invests CAD 90 Million in Foran Mining

Agnico Eagle Mines Ltd., a Canadian gold mining company, has agreed to invest CAD 90 million in Foran Mining Corp. through the purchase of 30 million common shares. The investment is part of a non-brokered private placement and is expected to close in two tranches, subject to certain conditions. This deal marks Agnico Eagle's increased involvement in Foran Mining, which could ultimately give them a 13.5% stake in the company.

Key Takeaways:

• Agnico Eagle will purchase 30 million common shares of Foran Mining Corp. for CAD 3.00 per share, totaling CAD 90 million.
• The investment will be made in two tranches, subject to approval from the Toronto Stock Exchange and Foran Mining's shareholders.
• On closing of the first tranche, Agnico Eagle's ownership stake in Foran Mining will increase to approximately 13.1% (assuming additional share issuances).
• On closing of the second tranche, Agnico Eagle's ownership stake in Foran Mining will increase to approximately 13.5% (assuming additional share issuances).
• Agnico Eagle is a gold producer with mining operations in Canada, Australia, Finland, and Mexico, and a pipeline of high-quality exploration and development projects.
• The investment is part of Agnico Eagle's strategy to expand its presence in the gold mining industry.

Statistics:

• Agnico Eagle will invest CAD 90 million in Foran Mining Corp.
• The investment will cover the purchase of 30 million common shares.
• The price per common share is CAD 3.00.
• The investment is expected to increase Agnico Eagle's ownership stake in Foran Mining to 13.5% (assuming additional share issuances).
• Agnico Eagle has existing operations and projects in Canada, Australia, Finland, and Mexico.

Sources:

• M2 EQUITYBITES, May 21, 2025, "Agnico Eagle Invests CAD 90m for 30,000,000 Common Shares of Foran Mining (C)2025 M2 Communications"