Agnico Eagle Mines has agreed to sell its Delta base and precious metals project and Helm Bay gold project to Vizsla Copper Corp., with the transaction expected to close in the fourth quarter of 2026. Under the deal, Agnico Eagle will receive about 22.5 million Vizsla Copper common shares and 2.9 million deferred shares, issued at a deemed price of C$1.26 per share, totaling approximately C$32 million, plus around 3.04 million warrants exercisable at C$1.95 per share. Following the transaction, Agnico Eagle will hold about 19.99% of Vizsla Copper and retain a 2% net smelter return royalty on Delta and a 3% royalty on Helm Bay. Vizsla Copper will also make C$20 million in contingent milestone payments related to Delta, including C$5 million upon a mineral resource estimate of at least 300,000 copper-equivalent tons, C$5 million upon a feasibility study, and C$10 million upon commercial production. Agnico Eagle has committed to participate in Vizsla Copper's next qualifying equity financing for up to C$5 million or 10% of the proceeds, whichever is lower, subject to the financing raising at least C$30 million by December 31, 2026.
Agnico Eagle Mines LimitedAgnico Eagle sells Delta and Helm Bay projects to Vizsla Copper for ~C$32M in shares plus warrants, royalties, and milestone payments, monetizing non-core assets.
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