AGNICO EAGLE ANNOUNCES INVESTMENT IN WALLBRIDGE MINING COMPANY LIMITED

Rhea-AI Summary

Agnico Eagle (NYSE:AEM) agreed to invest C$22.44 million in Wallbridge Mining via a private placement of 243,927,966 common shares at C$0.092 per share, subject to TSX approval. Ownership is expected to rise from about 9.44% to 19.62% on a non-diluted basis.

An investor rights agreement will grant Agnico Eagle participation rights in future financings and potential board nomination rights, supporting its strategy of building strategic positions in high-potential geological opportunities.

AI-generated analysis. Not financial advice.

Positive

• C$22.44 million strategic investment in Wallbridge via private placement
• Ownership in Wallbridge expected to increase from 9.44% to 19.62% non-diluted
• Investor rights to maintain pro rata ownership in future equity financings
• Potential right to nominate at least one Wallbridge board member

Negative

• C$22.44 million cash outlay for minority stake with limited control
• Private placement closing subject to Toronto Stock Exchange approval

News Market Reaction – AEM

+2.55%

1 alert

+2.55% News Effect

On the day this news was published, AEM gained 2.55%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Wallbridge shares purchased: 243,927,966 shares Purchase price: C$0.092 per share Total consideration: C$22,441,373 +5 more

8 metrics

Wallbridge shares purchased 243,927,966 shares Common shares to be acquired in private placement

Purchase price C$0.092 per share Subscription price for Wallbridge common shares

Total consideration C$22,441,373 Aggregate amount for Wallbridge private placement

Pre-deal ownership 115,358,013 shares Wallbridge common shares held before subscription agreement

Warrants held 6,275,897 warrants Common share purchase warrants in Wallbridge

Pre-deal stake 9.44% / 9.90% Non-diluted and partially-diluted Wallbridge ownership before placement

Post-deal stake 19.62% / 19.90% Expected non-diluted and partially-diluted ownership after closing

Post-deal shares 359,285,979 shares Wallbridge common shares expected to be held after placement

Market Reality Check

Price: $162.64 Vol: Volume 2,540,376 versus 2...

normal vol

$162.64 Last Close

Volume Volume 2,540,376 versus 20-day average of 2,353,769 ahead of this announcement. normal

Technical Shares traded below the 200-day MA of 181.17 with a prior close of 172.45.

Peers on Argus

Ahead of this news, AEM was down 3.24%. Key gold peers also showed weakness: NEM...

Ahead of this news, AEM was down 3.24%. Key gold peers also showed weakness: NEM -2.11%, WPM -2.12%, Barrick (B) -1.51%, FNV -0.10%, and KGC -2.03%, suggesting broader pressure in gold equities rather than a clearly idiosyncratic move tied to this Wallbridge investment.

Historical Context

5 past events · Latest: May 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 13	Rupert acquisition terms	Positive	-1.7%	Detailed terms for acquiring remaining Rupert shares and Q1 2026 financials.
May 13	Sector valuation commentary	Neutral	-0.6%	Discussion of rising valuations and cash flows for undeveloped gold assets.
May 13	Rupert meeting circular	Positive	-0.6%	Mailing of circular and interim court order for Rupert acquisition approval.
May 12	Junior Yukon explorer	Neutral	+0.1%	Profile of Yukon Metals’ multi‑project portfolio in a stronger gold market.
May 07	Imwelo drilling update	Neutral	-1.1%	Sterilization drilling and financing details for the Imwelo gold project.

Pattern Detected

Recent AEM news around M&A and growth initiatives, such as the Rupert Resources acquisition steps, was followed by modest share price declines, indicating a tendency for the stock to trade lower immediately after constructive strategic announcements.

Recent Company History

Over the last few months, Agnico Eagle has focused on growth through acquisitions and exploration partnerships. On April 21, 2026, it outlined a major Finland growth plan, including the Rupert and Aurion deals and Fingold consolidation. Subsequent updates on the Rupert transaction and related circular on May 13, 2026 saw shares ease modestly despite strategic expansion. Additional sector and junior‑miner news appeared neutral for AEM. Today’s Wallbridge private placement continues this pattern of using minority strategic stakes and investor rights agreements to secure exposure to prospective gold districts.

Market Pulse Summary

This announcement details Agnico Eagle’s plan to invest C$22,441,373 in Wallbridge, increasing its s...

Analysis

This announcement details Agnico Eagle’s plan to invest C$22,441,373 in Wallbridge, increasing its stake to about 19.62% non-diluted and 19.90% partially diluted, alongside board nomination and participation rights. It follows earlier strategic minority deals in Cascadia and Maple, reinforcing a theme of securing positions in prospective gold districts. Investors may track how these holdings evolve over time, including any future changes in ownership levels or exercise of governance rights as exploration results mature.

Key Terms

subscription agreement, common share purchase warrants, non-diluted basis, partially-diluted basis, +2 more

6 terms

subscription agreement financial

"announced today that it entered into a subscription agreement with Wallbridge"

A subscription agreement is a legal contract in which an investor agrees to buy a specific number of a company’s shares or other securities under set terms, including price, payment method and conditions for closing the sale. It matters to investors because it legally locks in their purchase and the company’s obligations, determines ownership percentage and any investor rights, and can include conditions or promises that affect future control or returns—like signing a detailed purchase order for equity.

common share purchase warrants financial

"and 6,275,897 common share purchase warrants (the "Warrants")"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

non-diluted basis financial

"representing approximately 9.44% of the issued and outstanding Common Shares on a non-diluted basis"

Non-diluted basis describes ownership percentages or per-share figures calculated using only the company’s currently outstanding shares, ignoring any potential future shares from options, warrants, convertibles or planned issuances. Investors use it to see the present snapshot of claims or earnings per share as if the pie’s size won’t change; it’s like measuring each person’s slice today without accounting for guests who might later get slices.

partially-diluted basis financial

"and 9.90% of the issued and outstanding Common Shares on a partially-diluted basis"

A partially-diluted basis is a way of counting a company’s shares that includes currently outstanding shares plus certain likely additional shares from things like vested options, warrants, and convertible securities, but excludes more speculative or unissued items. For investors it gives a more realistic view of ownership stakes and per-share figures — like earnings per share — by showing dilution that is probable today, much as counting people with purchased tickets (but not those who might buy later) gives a clearer sense of how full a theater really is.

investor rights agreement financial

"Agnico Eagle and Wallbridge will enter into an investor rights agreement"

A legally binding contract between a company and its investors that spells out investors’ core protections and privileges—such as voting rights, how and when shares can be sold, information access, and steps for resolving disputes. Think of it like a rulebook or homeowner association agreement for ownership: it clarifies who gets a say, how value can be realized, and what protections exist if things go wrong, making investment risks and expectations clearer for shareholders.

early warning report regulatory

"An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws."

An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.

AI-generated analysis. Not financial advice.

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Stock Symbol: AEM (NYSE and TSX)

TORONTO, May 20, 2026 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") announced today that it entered into a subscription agreement with Wallbridge Mining Company Limited ("Wallbridge"), pursuant to which Agnico Eagle agreed to purchase 243,927,966 common shares of Wallbridge ("Common Shares") at a price of C$0.092 per Common Share for total consideration of C$22,441,373 (the "Private Placement"). The Private Placement is subject to certain closing conditions, including approval of the Toronto Stock Exchange, and is expected to close on or about May 22, 2026.

Prior to entering into the Subscription Agreement, Agnico Eagle owned 115,358,013 Common Shares and 6,275,897 common share purchase warrants (the "Warrants"), entitling Agnico Eagle to acquire one Common Share per Warrant, representing approximately 9.44% of the issued and outstanding Common Shares on a non-diluted basis and 9.90% 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). On closing of the Private Placement, Agnico Eagle is expected to own 359,285,979 Common Shares and 6,275,897 Warrants, representing approximately 19.62% of the issued and outstanding Common Shares on a non-diluted basis and 19.90% of the Common Shares on a partially-diluted basis (assuming exercise of the Warrants held by Agnico Eagle at such time).

On closing of the Private Placement, Agnico Eagle and Wallbridge will enter into an investor rights agreement, pursuant to which Agnico Eagle will be entitled to certain rights, provided it maintains certain ownership thresholds in Wallbridge, including: (a) the right to participate in equity financings or top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Wallbridge at the time of such financing or dilutive issuance; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors of Wallbridge to nine or more directors, two persons) to the board of directors of Wallbridge.

Agnico Eagle is acquiring the Common Shares as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Warrants or other securities of Wallbridge or dispose of some or all of the Common Shares, Warrants or other securities of Wallbridge that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Wallbridge's head office is located at 129 Fielding Rd., Lively, Ontario  P3Y 1L7.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at May 20, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's acquisition of Common Shares pursuant to the Private Placement and expected ownership interest in Wallbridge, the closing of the Private Placement and agreements to be entered into in connection therewith, and Agnico Eagle's acquisition or disposition of securities of Wallbridge in the future.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/agnico-eagle-announces-investment-in-wallbridge-mining-company-limited-302777642.html

SOURCE Agnico Eagle Mines Limited

FAQ

What did Agnico Eagle (AEM) announce regarding its investment in Wallbridge on May 20, 2026?

Agnico Eagle announced a private placement investment in Wallbridge, purchasing 243,927,966 common shares for C$22,441,373. According to Agnico Eagle, the shares are priced at C$0.092 each and the transaction is expected to close on or about May 22, 2026, subject to TSX approval.

How many Wallbridge shares is Agnico Eagle (AEM) buying and at what price?

Agnico Eagle agreed to buy 243,927,966 Wallbridge common shares at C$0.092 per share. According to Agnico Eagle, this totals C$22,441,373 and will be completed through a private placement, subject to customary closing conditions including Toronto Stock Exchange approval.

What will Agnico Eagle’s ownership stake in Wallbridge be after the private placement?

After closing, Agnico Eagle expects to own 359,285,979 Wallbridge common shares and 6,275,897 warrants. According to Agnico Eagle, this represents about 19.62% of issued and outstanding shares on a non-diluted basis and 19.90% on a partially diluted basis.

What investor rights will Agnico Eagle (AEM) receive from its Wallbridge investment?

Agnico Eagle will receive rights to participate in future equity financings or top up holdings to maintain its ownership level. According to Agnico Eagle, it will also gain the right, without current intention to use it, to nominate at least one Wallbridge board member.

Why is Agnico Eagle investing in Wallbridge Mining, and what is the strategic rationale?

Agnico Eagle is acquiring Wallbridge shares as part of its strategy to build strategic positions in high-potential geological opportunities. According to Agnico Eagle, the investment enhances exposure to Wallbridge’s exploration potential while preserving flexibility to increase or reduce its stake based on future conditions.

When is the Agnico Eagle–Wallbridge private placement expected to close?

The private placement is expected to close on or about May 22, 2026. According to Agnico Eagle, completion is subject to certain closing conditions, including approval from the Toronto Stock Exchange, before the new Wallbridge common shares are issued to the company.

What are Agnico Eagle’s future plans for its Wallbridge (WM) shareholding?

Agnico Eagle may buy more or sell some of its Wallbridge securities over time. According to Agnico Eagle, any decision will depend on market conditions, strategic priorities and other factors, aligning with its broader approach to managing strategic equity positions in exploration companies.