Cadillac Mines Corporation announced the pricing and upsizing of its initial public offering to approximately $385 million, exceeding its initial target of $363 million due to strong demand. The offering included 47,075,000 common shares priced at $6.90 per share and 6,303,000 special flow-through shares at $9.52 per share. The gross proceeds were split, with Cadillac Mines receiving C$190,035,060 from a treasury offering of common and special flow-through shares, and existing shareholders receiving C$194,787,000 from a secondary offering of common shares.
In addition to the public offering, Agnico Eagle Mines Limited subscribed for 8,696,000 common shares in a concurrent private placement for approximately $60 million. This private placement is expected to close simultaneously with the IPO. The underwriters, led by BMO Capital Markets, National Bank of Canada Capital Markets, and Stifel Canada, have also been granted an over-allotment option to purchase up to an additional 8,006,700 common shares from selling shareholders.
The company, formerly known as Gold Candle Ltd., changed its name to Cadillac Mines Corporation to better reflect its growing presence along the Cadillac-Larder Lake Break in Ontario and Quebec. The IPO shares are expected to begin trading on the Toronto Stock Exchange on an "if, as and when issued" basis on July 24, 2026, under the symbol "CADY." The closing of the offering is anticipated around August 5, 2026, subject to customary conditions.
