Canadian miner Fury Gold Mines announced the signing of an underwriting agreement with Agnico Eagle Mines Limited, cementing its relationship with one of the world’s leading gold world’s leading gold producers a capital injection of 4.3 million Canadian dollars. This non-brokered private placement involved the acquisition of 6,728,000 units by Agnico at a unit price of C$0.64.
Fury and Agnico reinforce gold in Nunavut
Each unit consists of one common share of Fury and a warrant to purchase one additional share at C$0.80 for the next 36 months. In the event that the market price of Fury exceeds the exercise price for twenty consecutive business days, maturity may be brought forward to 24 months.
With this transaction, Agnico increases its basic stake from 2.3% to 6.3%, and reaches a 9.9% position on a partially diluted basis, which strengthens its influence in Fury’s shareholding structure.
Exploration in the Canadian Arctic
The company will allocate the majority of the funds to its 2025 exploration program in the project Committee Bayproject, located in the Kitikmeot region of Nunavut. Fury plans to accelerate activities in this area, which has a 300 km greenstone belt considered highly prospective for gold discoveries. gold discoveries.
Tim Clark, CEO of Fury, said that the Arctic will play an increasingly important role in the future mineral exploration. exploration. He noted that maintaining full ownership of Committee Bay offers Fury a unique competitive advantage within the junior exploration sector.
Strategic rights for Agnico
As part of the agreement, Agnico Eagle obtains additional rights: it will be able to nominate a member of Fury’s board of directors and participate in future share issues to maintain its ownership level or increase it to 9.9%. This move reflects a strategy of sustained positioning by Agnico in projects with high exploration potential.
The agreement underscores the confidence of major industry players in Fury’s ability to lead ambitious exploration campaigns in challenging and geologically valuable regions.
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Source and photo: Fury Gold Mines
