09:23 AM EDT, 03/30/2026 (MT Newswires) -- Agnico Eagle Mines ( AEM ) said Monday it has agreed to invest in Cascadia Minerals under a private placement and secondary purchases for about $7.6 million Canadian dollars ($5.5 million).

The company said it will acquire about 19.3 million units of Cascadia Minerals under a non-brokered private placement at CA$0.26 per unit.

Each unit includes one share and one-half warrant exercisable at CA$0.32 over two years, the company said.

Additionally, Agnico Eagle said it has also agreed to purchase 10 million units from selling shareholders at the same price.

The transactions are expected to close on or about April 17, the company said.

Upon closing, Agnico Eagle Mines ( AEM ) said it expects to own about 29.3 million shares and 14.7 million warrants, representing about 14.2% of Cascadia Minerals on a non-diluted basis and about 19.9% on a partially diluted basis.

The companies will also enter into an investor rights agreement, giving Agnico Eagle the right to participate in future financings and the right to nominate a director under certain conditions, it said.

Separately, Agnico Eagle said it entered an earn-in agreement for a right to earn a 51% interest in Cascadia's Catch property in Yukon. Concurrently, the companies also entered a strategic alliance agreement under which Agnico Eagle will fund exploration work in Yukon's Stikine Terrane over an initial three-year period, Agnico Eagle said.

Agnico Eagle Mines ( AEM ) shares were 2% higher in Monday premarket trading.