Perpetua Resources gains on investment from Agnico Eagle and J.P. Morgan
Shares of mining company Perpetua Resources PPTA.O rise 4.3% to $25.22 premarket
PPTA enters agreement to raise $255 million in equity investments from Agnico Eagle Mines AEM.TO and J.P. Morgan
AEM will invest $180 million in common shares and get warrants to buy up to 2,861,229 shares at premiums of 35%, 50%, and 65% over the next three years
AEM agrees to purchase 7.7 million common shares in the company, resulting in 6.5% stake
As part of the investment, Agnico Eagle and Perpetua expect to form a joint technical and exploration advisory committee
J.P. Morgan to invest $75 million in common shares and receive warrants to buy up to 1,192,179 shares at prices 35%, 50%, and 65% premiums over the next three years
PPTA looks to use the proceeds for the development of the Stibnite Gold Project in Idaho
Up to last close, PPTA up 118.3% YTD
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