Agnico Eagle (NYSE:AEM) has acquired 26 million common shares of Osisko Metals (C$0.48 per share) for a total of C$12,480,000 through a non-brokered private placement, announced on Dec. 16, 2025.
Following the placement, Agnico Eagle’s total holdings in Osisko stand at 67.2 million common shares and 20.6 million warrants, which together represent approximately 9.85% of Osisko’s common shares on a non-diluted basis, and about 12.49% on a partially-diluted basis, assuming warrant exercise.
The deal also includes an amended investor rights agreement, which provides Agnico Eagle with participation rights in future equity financings by Osisko Metals.
Additionally, the agreement grants conditional board-nomination rights if Agnico Eagle’s ownership reaches certain thresholds.
As required by securities laws, Agnico Eagle will file an early warning report detailing the acquisition.
This investment strengthens Agnico Eagle’s position in Osisko Metals, which is advancing several exploration projects in Canada’s mining sector.
The acquisition also aligns with Agnico Eagle’s strategy to increase its exposure to high-potential mining assets, particularly in the base and precious metals space.