Stock Symbol: AEM (NYSE and TSX) For further information: Investor Relations
Stock Symbol: AEM (NYSE and TSX)
For further information: Investor Relations
(416) 947-1212
AGNICO EAGLE ANNOUNCES INVESTMENT IN
CADILLAC MINES CORPORATION
Toronto (July 24, 2026) – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico
Eagle”) announced today that it has entered into a subscription agreement dated July 23, 2026
(the “Subscription Agreement”) with Cadillac Mines Corporation (“Cadillac”), pursuant to which
Agnico Eagle agreed to acquire 8,696,000 common shares of Cadillac (“Common Shares”) at a
price of C$6.90 per Common Share for total consideration of C$60,002,400.00 (the “Private
Placement”). The Private Placement is subject to certain closing conditions, including the closing
of Cadillac’s initial public offering of Common Shares (the “IPO”) pursuant to Cadillac’s final long
form base PREP prospectus dated July 23, 2026. The Private Placement is expected to close on
or about August 5, 2026.
Prior to entering into the Subscription Agreement, Agnico Eagle owned 22,821,028 Common
Shares, representing approximately 9.70% of the issued and outstanding Common Shares on a
non-diluted basis. On closing of the Private Placement, Agnico Eagle is expected to own
31,517,028 Common Shares, representing approximately 11.09% of the issued and outstanding
Common Shares on a non-diluted basis after giving effect to the IPO (assuming the issuance of
all Common Shares qualified thereunder) and all other security issuances completed by Cadillac
concurrently with the Private Placement.
Pursuant to a subscription agreement dated July 25, 2023 between Agnico Eagle and Cadillac,
Agnico Eagle is entitled to certain rights, including the right to participate in equity financings in
order to maintain its pro rata ownership interest in Cadillac at the time of such financing.
On closing of the IPO, Agnico Eagle will enter into a lock -up agreement in favour of the
underwriters of the IPO, pursuant to which it will agree that it will not, directly or indirectly, without
the prior written consent of the underwriters: (a) offer, sell, pledge or otherwi se dispose of any
Common Shares or any securities convertible into or exercisable or exchangeable for Common
Shares (collectively, the “Locked-Up Securities”); (b) make any short sale, engage in any hedging
or enter into any swap or other arrangement that transfers to another, in whole or in part, any of
the economic consequences of ownership of the Locked-Up Securities; or (c) agree to or publicly
announce any intention to do any of the foregoing, in each case, for a period of 180 days following
the closing date of the IPO, subject to certain limited exceptions.
Agnico Eagle is acquiring the Common Shares as part of its strategy of acquiring strategic
positions in prospective opportunities with high geological potential. Depending on market
conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire
additional Common Shares or other securities of Cadillac or dispose of some or all of the Common
Shares or other securities of Cadillac that it owns at such time.
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An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws.
To obtain a copy of the early warning report, please contact:
Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: [email protected]
Agnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C
2Y7. Cadillac’s head office is located at 123 Front Street West, Suite 905, Toronto, Ontario M5J
2M2.
About Agnico Eagle
Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second
largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico.
Agnico Eagle is advancing a pipeline of high- quality development projects i n these regions to
support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the
mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was
founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend
every year since 1983.
For further information regarding Agnico Eagle, contact Investor Relations at
[email protected] or call (416) 947-1212.
Forward-Looking Statements
The information in this news release has been prepared as at July 24, 2026. Certain statements
in this news release, referred to herein as “forward-looking statements ”, constitute “ forward-
looking statements” within the meaning of the United States Private Securities Litigation Reform
Act of 1995 and “forward-looking information” under the provisions of Canadi an provincial
securities laws. These statements can be identified by the use of words such as “may”, “will” or
similar terms.
Forward-looking statements in this news release include, without limitation, statements relating to
Agnico Eagle’s acquisition of Common Shares pursuant to the Private Placement and expected
ownership interest in Cadillac, the closing of the Private Placement and IPO and the agreements
to be entered into in connection therewith, and Agnico Eagle’s acquisition or disposition of
securities of Cadillac in the future.
Forward-looking statements are necessarily based upon a number of factors and assumptions
that, while considered reasonable by Agnico Eagle as of the date of such statements, are
inherently subject to significant business, economic and competitive uncertainties and
contingencies. Many factors, known and unknown, could cause actual results to be materially
different from those expressed or implied by s uch forward -looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements, which speak only as
of the date made. Other than as required by law, Agnico Eagle does not intend, and does not
assume any obligation, to update these forward-looking statements.