Cadillac Mines launches C$190m IPO, TSX listing approved

1 min read Updated on 20 Jul 2026, 05:33 PM

Reviewed by

Shraddha JScanX News Team

AI Summary

Cadillac Mines Corporation launched its IPO of 50.2 million shares at C$6.90 per share to raise C$190 million, with a concurrent C$60 million private placement to Agnico Eagle. The TSX conditionally approved listing under symbol CADY, contingent on requirements by October 15, 2026.

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Cadillac Mines Corporation launched its initial public offering of 50,228,000 Offered Shares on July 20, 2026, comprising common shares and special flow-through shares. The company aims to raise gross proceeds of approximately C$190 million through a treasury offering, while selling shareholders expect to generate approximately C$173 million via a secondary offering. The offering price is set at C$6.90 per common share and C$9.52 per special flow-through share. The Toronto Stock Exchange has conditionally approved the listing of the common shares under the symbol "CADY", subject to final requirements being met by October 15, 2026.

The offering includes an over-allotment option for underwriters to purchase up to an additional 7,534,200 common shares at C$6.90 per share, exercisable for 30 days from the closing date. If exercised in full, total gross proceeds could reach approximately C$415 million. Concurrently, Cadillac Mines is conducting a private placement of 8,696,000 common shares to Agnico Eagle Mines Limited, expected to yield gross proceeds of approximately C$60 million without underwriter commissions.

A syndicate of underwriters led by BMO Capital Markets, National Bank of Canada Capital Markets, and Stifel Canada as co-lead underwriters and joint bookrunners is managing the offering. Scotiabank, Barclays Capital Canada, CIBC Capital Markets, Desjardins Securities Inc., and Ventum Financial Corp. are acting as co-managers. Legal counsel includes Goodmans LLP for the company and Stikeman Elliott LLP for the underwriters in Canada, with Dorsey & Whitney, LLP and Skadden, Arps, Slate, Meagher & Flom LLP representing the company and underwriters in the U.S., respectively.

Cadillac Mines, formerly Gold Candle Ltd., is advancing gold and critical mineral projects along the Cadillac-Larder Lake Break in Ontario and Québec. The company is focused on expanding its gold resource base, advancing the Geminid nickel deposit, and unlocking the potential of its Abitibi land position. The amended and restated preliminary prospectus is available on SEDAR+.