Perpetua Resources Announces Pricing of $71 million Offering of Common Shares and $7 million Concurrent Private Placement

Rhea-AI Summary

Perpetua Resources (Nasdaq: PPTA) priced a public offering of 2,938,000 common shares at US$24.25 per share for gross proceeds of approximately $71.2 million on October 28, 2025. Under an Investor Rights Agreement, Agnico Eagle indicated intent to exercise a pro rata right to buy an additional 288,200 shares in a concurrent private placement for $7.0 million, which would raise total gross proceeds to $78.2 million if completed.

Proceeds are expected to fund construction and development of the Stibnite Gold Project, working capital beyond project costs, exploration, restoration and general corporate purposes. The offering is expected to close on or about October 30, 2025 and is being managed by BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets.

Positive

• Gross proceeds of approximately $71.2 million from the Offering
• Agnico participation could add $7.0 million via 288,200 shares
• Proceeds earmarked for Stibnite Gold Project construction and development
• Registered offering on Form S-3 enables U.S. distribution

Negative

• Issuance of 2,938,000 shares will dilute existing shareholders
• Net proceeds will be lower after commissions and offering expenses
• Concurrent private placement is not guaranteed and is conditional
• Closing is subject to customary conditions, creating execution risk

News Market Reaction

+2.17%

11 alerts

+2.17% News Effect

-3.5% Trough in 22 hr 36 min

+$58M Valuation Impact

$2.73B Market Cap

1.0x Rel. Volume

On the day this news was published, PPTA gained 2.17%, reflecting a moderate positive market reaction. Argus tracked a trough of -3.5% from its starting point during tracking. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $58M to the company's valuation, bringing the market cap to $2.73B at that time.

Data tracked by StockTitan Argus on the day of publication.

BOISE, Idaho, Oct. 28, 2025 /PRNewswire/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or the "Company") today announced the pricing of its previously announced public offering of 2,938,000 shares, no par value, of the Company (the "Common Shares") in the United States ( the "Offering") at a price to the public of US$24.25 per share. Pursuant to the Investor Rights Agreement, dated as of October 28, 2025, between the Company and Agnico Eagle Mines Limited ("Agnico"), Agnico has indicated that it intends to exercise its pro rata participation right with respect to the Offering in a concurrent private placement at the public offering price of the Offering (the "Concurrent Private Placement"). Participation in full would result in the issuance of an additional 288,200 common shares for proceeds to the Company of $7.0 million.

The gross proceeds to Perpetua Resources from the Offering, before deducting commissions and expenses and other Offering expenses, will be approximately $71.2 million, and will be approximately $78.2 million if Agnico exercises its participation right in full in the Concurrent Private Placement.

The Company expects to use the net proceeds of the Offering and the Concurrent Private Placement to fund the construction and development of the Stibnite Gold Project (the "Project"), working capital costs in excess of the Project capital costs, continuing exploration and development activities, restoration and reclamation work, and for general corporate purposes.

The Common Shares will be offered by the Company with BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets acting as joint book-running managers (collectively, the "Underwriters").

In connection with the Offering, an underwriting agreement has been entered into by and between Perpetua Resources and BMO Capital Markets, as representative of the several Underwriters (the "Underwriting Agreement").

The Offering is expected to close on or about October 30, 2025. Closing of the Offering will be subject to a number of customary conditions included in the Underwriting Agreement.

The Offering to the public in the United States is being made pursuant to the Company's effective shelf registration statement on Form S-3, including a base prospectus, previously filed with the Securities and Exchange Commission (the "SEC"). The Offering in the United States will be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the base prospectus may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036. The Offering may also be conducted in Canada and in offshore jurisdictions on a private placement basis in accordance with applicable securities laws. The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Offering as an eligible interlisted issuer.

The consummation of the Concurrent Private Placement is subject to customary closing conditions, including the completion of the Offering, but the Offering is not contingent upon the consummation of the Concurrent Private Placement. We expect the Concurrent Private Placement to close substantially concurrently with the closing of the Offering. However, we cannot assure you that the Concurrent Private Placement will be completed. The sale of the Common Shares under the Concurrent Private Placement will not be registered under the Securities Act of 1933, as amended.

This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project.  The Stibnite Gold Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Antimony trisulfide from Stibnite is the only known domestic source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS OR INFORMATION

 Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding the conduct of the Offering and the Concurrent Private Placement and the anticipated use of proceeds from the Offering and the Concurrent Private Placement. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including Perpetua's Annual Report on Form 10-K filed with the SEC on March 19, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View original content:https://www.prnewswire.com/news-releases/perpetua-resources-announces-pricing-of-71-million-offering-of-common-shares-and-7-million-concurrent-private-placement-302597621.html

SOURCE Perpetua Resources Corp.

FAQ

What did Perpetua Resources announce on October 28, 2025 (PPTA)?

Perpetua priced a public offering of 2,938,000 shares at $24.25 per share for ~$71.2M gross proceeds.

How much could Agnico Eagle invest in the concurrent private placement for PPTA?

Agnico indicated intent to buy 288,200 shares at the offering price for $7.0M.

What will Perpetua use the offering proceeds for (PPTA)?

To fund Stibnite Gold Project construction and development, excess working capital, exploration, restoration and general corporate purposes.

When is the PPTA offering expected to close?

The Offering is expected to close on or about October 30, 2025, subject to customary conditions.

Who are the joint book-running managers for the PPTA offering?

BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets are joint book-running managers.

Will the concurrent private placement by Agnico definitely occur for PPTA?

No; the Company said the concurrent private placement is expected to close concurrently but is not assured and is subject to conditions.