KEY POINTS
- Agnico Eagle will invest C$57.16 million in Radisson Mining for a 10.45% stake.
- The funding will support advanced underground exploration at the O’Brien Gold Project in Quebec.
- Agnico Eagle will receive strategic rights and warrants that could allow it to increase its stake in Radisson
Agnico Eagle Mines Limited has agreed to invest C$57.16 million in Radisson Mining Resources, strengthening its position in the Canadian mining company and gaining a 10.45% ownership stake.
The investment will be made through a private placement involving 53.42 million units of Radisson Mining. The deal is expected to provide Radisson with significant funding to advance exploration and development activities at its O’Brien Gold Project in Quebec.
The transaction remains subject to approval by the TSX Venture Exchange and is expected to close around September 2, 2026.
Each unit being acquired by Agnico Eagle consists of one common share in Radisson Mining and half of a common-share purchase warrant.
The warrants will give Agnico Eagle the opportunity to acquire additional Radisson shares at C$1.39 per share over a five-year period. This could allow Agnico Eagle to increase its ownership in the company if it chooses to exercise the warrants.
The structure of the deal gives Agnico Eagle both an immediate equity position and a potential pathway to deepen its investment in Radisson in the future.
Funding to Support O’Brien Gold Project
The investment is expected to provide Radisson Mining with additional financial strength as it moves forward with an advanced underground exploration programme at the O’Brien Gold Project.
The project, located in Quebec, is one of Radisson’s key exploration assets. The new funding is expected to support further underground exploration and help the company expand its understanding of the project’s gold resources and development potential.
For Radisson, securing a major strategic investor provides not only capital but also the backing of one of the world’s major gold producers.
Beyond its financial investment, Agnico Eagle will receive a number of investor rights under the agreement.
These rights include options to nominate directors to Radisson’s board, as well as rights that could allow Agnico Eagle to maintain or increase its ownership position in future financing transactions.
The agreement therefore gives Agnico Eagle a greater strategic connection to Radisson and its exploration activities, while giving Radisson access to a well-established mining partner.
The transaction reflects Agnico Eagle’s continued interest in identifying and investing in promising gold exploration and development opportunities.
By taking a significant minority position in Radisson, Agnico Eagle gains exposure to the O’Brien Gold Project while allowing Radisson to retain its independence and continue developing the asset.
The investment could also create opportunities for closer cooperation between the two companies as exploration at O’Brien advances.
