Agnico takes 22% of Vizsla in $32M Alaska deal
The structure gives Agnico exposure to the projects while shifting most of the cost and risk to the junior.
Agnico Eagle Mines has acquired 22% of Vizsla Copper's Alaska projects, Delta and Helm Bay, for a $32 million share investment. Delta, a polymetallic sulphide project, and Helm Bay, a gold project, are located in Alaska, with Delta 60 km southwest of Tok and Helm Bay 35 km north of Ketchikan. Agnico would hold 19.9% of Vizsla and 22% after shareholder approval.
Vizsla CEO Craig Parry stated that Delta is valuable for its resource estimate, multiple mineralized lenses, and exploration potential. Vizsla will issue 22.5 million shares to Agnico, and Agnico will receive warrants and royalties. Agnico will gain director nomination rights and a right to future financings. The deal is expected to close in the fourth quarter, with Vizsla aiming for shareholder approval on Nov. 18.
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