Gold miner Agnico Eagle Mines acquires minority stake in Canada Nickel
BNN Bloomberg
Gold miner Agnico Eagle Mines Ltd. has acquired a minority stake in Canada Nickel Co. Ltd. in what it says is an early stage investment in the growing critical minerals sector.
Under the deal, Agnico Eagle says it has bought 19.6 million units of Canada Nickel in a flow-through offering at a price of $1.18 per unit for a total of $23.1 million.
Each unit includes one share of Canada Nickel and 0.35 of a share purchase warrant, which entitles the holder to acquire a share at a set price of $1.77 at any time before Dec. 29, 2026, subject to conditions.
The investment gives Agnico Eagle a 12 per cent stake in Canada Nickel on a non-diluted basis and also gives it a right to maintain its stake in Canada Nickel in future financings and to nominate one person to the company's board of directors.
