Cadillac Mines Corporation holds over $300 million in working capital, backed by $72.1 million in quarter-end cash and equivalents with no debt as of June 30, 2026, alongside proceeds from a subsequent upsized initial public offering and concurrent private placement.

Following the quarter, Cadillac Mines closed its upsized initial public offering on the Toronto Stock Exchange, issuing 18,845,000 common shares at $6.90 per share and 6,303,000 special flow-through shares at $9.52 per share for gross proceeds of $190.0 million. The company also completed a concurrent private placement of 8,696,000 common shares to Agnico Eagle Mines Limited at $6.90 per share, raising approximately $60.0 million in gross proceeds.

In addition, certain shareholders completed a secondary offering of 36,236,700 common shares at $6.90 per share, generating $250.0 million in gross proceeds for the selling shareholders. That final figure surpassed prior launch plans, which anticipated a secondary offering of 25,080,000 shares for approximately C$173 million.

Chief Executive Officer Rick Howes stated:

“We are excited to begin the next stage of our journey as a newly listed public company on the TSX with a strong cash position and a district scale platform in one of the best jurisdictions and gold belts in the world — the southern Abitibi region of Canada.”

The combined working capital leaves Cadillac Mines positioned to advance multiple technical initiatives, including exploration, permitting, environmental and engineering studies across its district-scale portfolio along the Cadillac-Larder Lake Break in Ontario and Québec.

Anchored by the historic Kerr-Addison Mine, the company previously operated as Gold Candle Ltd. before adopting its current name in July 2026. In May 2026, Cadillac Mines acquired Pan American Silver Corp.’s Larder Property in exchange for 15,000,000 common shares, adding three mineral deposits contiguous to the Kerr-Addison property.

Read the full announcement: Cadillac Mines Announces Filing of Second Quarter Financial Results With Over $300M of Working Capital Including Proceeds From Successful Initial Public Offering