Rupert raises C$28.5m, Agnico Eagle maintains stake
Finland-focused Rupert Resources has raised C$28.5-million in a private placement, with senior Canadian gold miner Agnico Eagle Mines maintaining a 14% stake in the company.
The Toronto-based miner issued 6.32-million shares at C$4.50 apiece, it said in a statement Tuesday.
Agnico Eagle exercised its participation rights to acquire 2.6-million shares.
Rupert also appointed Kim Hagberg and Joanna Pearson as independent nonexecutive directors. Hagberg previously served as chief operations officer at Swedish telecom firm Tele2 and held leadership roles at Telia and Tele2 in Sweden, Canada, France and Switzerland. Pearson, a chartered professional accountant, was formerly CFO at Endeavour Mining and a partner at Deloitte.
Agnico Eagle has nominated Carol Plummer for election to Rupert’s board at the next AGM. Plummer, the mining giant’s executive VP of sustainability, people and culture, was previously general manager of Agnico’s Kittilä mine in Finland, located near Rupert’s Ikkari project.
“We are pleased to welcome Kim Hagberg and Joanna Pearson to the board,” Rupert chairperson Gunnar Nilsson said. “We are also looking forward to welcoming Carol Plummer . . . her expertise will be invaluable as we progress with the Ikkari project.”
Proceeds from the placement will fund exploration, and technical and environmental studies in Finland, as well as general corporate purposes.
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