Magna Mining Announces Closing of C$140 Million Strategic Investment by Alpayana
Alpayana’s C$140M strategic stake secures Magna’s Sudbury development pipeline.
Magna Mining Inc. (NICU) has closed a non-brokered strategic private placement, raising approximately C$140.3 million. Alpayana S.A.C. acquired 62,356,682 common shares at C$2.25 per share, resulting in a 19.9% ownership stake. The transaction was previously announced on July 6, 2026, and is now finalized following TSX approval.
Proceeds from the deal are designated for advancing development at the Levack and Crean Hill projects in the Sudbury region, as well as for general corporate and working capital purposes. The agreement includes an Investor Rights Agreement granting Alpayana the right to nominate one board director, establish a technical committee, and participate in future equity financings to maintain its pro rata ownership through top-up rights. The shares carry a statutory hold period of four months and one day from closing.
Magna Mining Inc. (NICU) closed a C$140 million strategic investment, providing non-dilutive capital at a discount to the current trading price of $2.25 versus approximately $2.72. This transaction removes the immediate need for further equity raises to fund the Levack and Crean Hill development phases.
Following the August 12 earnings release, the stock consolidated near $2.70, indicating the financing was already priced in. The strategic partnership with Alpayana, a private group with active operations in Peru and Mexico, adds operational credibility and potential technical expertise to the Sudbury pipeline.
Magna Mining Inc. (NICU) operates in the Sudbury Basin in Ontario, a region recognized as one of the world’s most prolific polymetallic districts. The company’s portfolio features a producing mine, McCreedy West, alongside three permitted past-producing projects currently in development: Levack, Crean Hill, and Podolsky. Additionally, the company holds multiple exploration properties. These assets benefit from proximity to major infrastructure, including Vale's Clarabelle mill and Glencore's Strathcona mill.