Agnico Eagle Mines Limited (AEM) has entered into an agreement to sell its Delta base and precious metals project and Helm Bay gold project to Vizsla Copper Corp. The transaction is expected to finalize in the fourth quarter of 2026, pending customary conditions and TSX Venture Exchange approval.
Under the deal, Agnico Eagle will receive approximately 22.5 million Vizsla Copper common shares at closing, alongside 2.9 million deferred shares, subject to shareholder approval. The shares are valued at around C$32 million at a deemed price of C$1.26 per share. Post-transaction, Agnico Eagle is anticipated to hold about 19.99% of Vizsla Copper and will retain a 2% net smelter return royalty on Delta and a 3% royalty on Helm Bay.
Additionally, Vizsla Copper will make contingent milestone payments totaling C$20 million related to Delta, including C$5 million upon the disclosure of a mineral resource estimate containing at least 300,000 copper-equivalent tons. Payments can be made in cash or shares, with specific limitations on ownership dilution for Agnico Eagle.
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