Agnico Eagle invests C$57 million in Radisson Mining

Agnico Eagle Mines Limited has entered into a subscription agreement to invest approximately C$57.16 million in Radisson Mining Resources Inc. The investment is structured through a non-brokered private placement of 53,420,000 units at C$1.07 per unit. Each unit consists of one common share and one-half of a share purchase warrant, with warrants exercisable at C$1.39 for 60 months.

Upon completion of the transaction, Agnico Eagle is expected to hold a 10.45% stake in Radisson on a non-diluted basis and approximately 14.90% on a partially diluted basis. The agreement also includes investor rights such as board nomination and participation rights to maintain ownership levels.

The capital is intended to fund an advanced underground exploration program at Radisson’s 100%-owned O’Brien Gold Project in Quebec’s Abitibi region. This program will support the development of an access ramp, underground and surface mine infrastructure, and water management facilities. The project aims to leverage the historical high-grade production of the O’Brien mine, which operated from 1926 to 1957.