05:57 AM EST, 12/17/2025 (MT Newswires) -- Agnico Eagle Mines ( AEM ) late on Tuesday said it has acquired 26 million common shares of Osisko Metals ( OMZNF ) under a non-brokered private placement for C$12.5 million.

The common shares were priced at $0.48 apiece and were acquired as part of Agnico's efforts to buy strategic positions in prospective opportunities with high geological potential.

Before the private placement, Agnico owned 41.2 million common shares and 20.6 million common share purchase warrants of Osisko, representing 6.71% of the issued and outstanding shares.

After the private placement Agnico owns 67.2 million common shares and 20.6 million warrants, representing about 9.85% of the issued and outstanding shares.

On closing of the private placement, the two companies entered into an amended and restated investor rights agreement. Under the agreement, Agnico is entitled to rights that include participation in equity financings and nomination of individuals to Osisko's board.