Perpetua Resources Announces Pricing of $71 million Offering of Common Shares and $7 million Concurrent Private Placement

Executive Summary

• Perpetua Resources announced the pricing of a public offering of 2,938,000 common shares at $24.25 per share, generating gross proceeds of approximately $71.2 million.
• Concurrently, Agnico Eagle Mines Limited intends to exercise its pro rata participation right in a private placement for an additional 288,200 shares, adding $7.0 million in proceeds, bringing total potential gross proceeds to $78.2 million.
• Net proceeds will be used to fund the construction and development of the Stibnite Gold Project, working capital, exploration, reclamation, and general corporate purposes.

Key Details

• Public Offering Details:
  • Shares Issued: 2,938,000 common shares.
  • Price: US$24.25 per share.
  • Gross Proceeds: Approximately $71.2 million (before deducting commissions and expenses).
  • Underwriters: BMO Capital Markets, National Bank of Canada Capital Markets, and RBC Capital Markets acting as joint book-running managers.
• Concurrent Private Placement:
  • Participant: Agnico Eagle Mines Limited ("Agnico").
  • Shares Issued: 288,200 common shares (if participation is in full).
  • Price: US$24.25 per share.
  • Gross Proceeds: $7.0 million.
  • Total Gross Proceeds (with Agnico participation): Approximately $78.2 million.
• 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.
• Closing and Conditions:
  • Expected Closing Date: On or about October 30, 2025.
  • Conditions: Subject to customary conditions in the Underwriting Agreement.
  • Contingency: The Offering is not contingent upon the consummation of the Concurrent Private Placement, though the Private Placement is expected to close substantially concurrently with the Offering.
• Regulatory Basis:
  • Offering made pursuant to an effective shelf registration statement on Form S-3.
  • Reliance on exemption in section 602.1 of the TSX Company Manual as an eligible interlisted issuer.