Perpetua Resources arranges $70-million public offering

Executive Summary

• Perpetua Resources Corp. has announced a $70 million public offering of common shares in the United States.
• Agnico Eagle Mines Ltd. intends to exercise its pro rata participation right to invest in a concurrent private placement at the same public offering price.
• Net proceeds from the offering and the concurrent private placement will be used to finance the construction and development of the Stibnite gold project, working capital, exploration, and general corporate purposes.

Key Details

• Offering Size: $70 million USD.
• Instrument: Common shares, no par value.
• Strategic Partner Participation: Agnico Eagle Mines Ltd. intends to exercise its pro rata participation right under an investor rights agreement dated Oct. 28, 2025, to participate in a concurrent private placement at the public offering price.
• Use of Proceeds:
  • Construction and development of the Stibnite gold project.
  • Working capital costs in excess of project capital costs.
  • Continuing exploration and development activities.
  • Restoration and reclamation work.
  • General corporate purposes.
• Underwriters/Managers: BMO Capital Markets Corp., National Bank of Canada Capital Markets, and RBC Capital Markets acting as joint bookrunning managers.
• Regulatory Framework:
  • Offered pursuant to an effective shelf registration statement on Form S-3 (including a base prospectus) filed with the U.S. SEC.
  • Conducted via prospectus and related prospectus supplement meeting Section 10 of the Securities Act of 1933.
  • The company intends to rely on the exemption in Section 602.1 of the TSX company manual as an eligible interlisted issuer.
  • The offering may also be conducted in Canada and offshore jurisdictions on a private placement basis.
• Conditions: The concurrent private placement is subject to customary closing conditions, including the completion of the public offering, but the public offering is not contingent upon the private placement.

Notable Quotes

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