Cascadia Minerals Ltd. announced a non-brokered private placement of 19,315,300 units at a price of CAD 0.26 per Unit for gross proceeds of CAD 5,021,978 and 10,000,000 critical minerals flow-through units ("CFT Units") to arms' length subscribers at a price of CAD 0.384 per CFT Unit for gross proceeds of CAD 3,840,000 for total aggregate gross proceeds of CAD 8,861,978 on March 30, 2026. The transaction includes participation from Agnico Eagle Mines Limited for CAD 5,021,978 and other investors. Agnico Eagle has also agreed to acquire the securities underlying the CFT Units from from several sellers that will be participating in the flow through offering.
Each Unit is comprised of one common share of Cascadia and one-half of one common share purchase warrant of Cascadia. Each Warrant entitles the holder to acquire one Common Share at a price of CAD 0.32 for a period of two years following the date of issuance. Each CFT Unit will consist of one flow-through Common Share and one-half of one Warrant.
The Private Placement and the Unit Purchases are subject to certain closing conditions, and are expected to close on or about April 17, 2026 and is subject to acceptance of the TSX Venture Exchange. No finders' fees will be paid on any portion of the Offering. Pursuant to applicable Canadian securities laws, al securities of Cascadia issued as part of the Offering will be subject to a hold period of four months plus one day from the date of closing of the Offering. Following the closing of the Offering, Agnico Eagle will own 29,315,300 Common Shares and 14,657,650 Warrants, representing approximately 14.21% of the issued and outstanding Common Shares on a non-diluted basis and approximately 19.90% of the issued and outstanding Common Shares on a partially diluted basis (assuming the exercise of the Warrants held by Agnico Eagle at such time).
