Agnico Eagle subsidiary and Goldsky announce $20M share purchase agreement

Agnico Eagle (AEM) Mines announced that Agnico Sweden, a wholly-owned subsidiary of Agnico Eagle, and Goldsky Resources, have entered into a share purchase agreement pursuant to which Goldsky agreed to purchase the 55% of Gunnarn Mining that it did not already own from Agnico Sweden in exchange for cash consideration of $20M, the issuance of 75,509,577 common shares of Goldsky, and the grant of a 2% net smelter return royalty to Agnico Sweden on the Barsele project. The Common Shares to be issued by Goldsky were ascribed a value of C$2.64 per Common Share, being the volume-weighted average price of the Common Shares for the 20-day period prior to entering into the Agreement. Closing of the Transaction is expected to occur on or prior to June 30, 2026 and is subject to certain closing conditions, including approval of the TSX Venture Exchange and the shareholders of Goldsky. Prior to execution of the Agreement, Agnico Eagle owned 7,353,291 Common Shares, representing approximately 4.1% of the issued and outstanding Common Shares on a non-diluted basis. Following execution of the Agreement, Agnico Eagle beneficially owned 82,862,868 Common Shares, representing approximately 32.5% of the issued and outstanding Common Shares on a non-diluted basis.