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Scout Discoveries Announces 14.9% Strategic Investment by Agnico Eagle and an Earn-In Agreement in Idaho; Electrum Increases to 30% Ownership in Combined US$25 Million Private Placement
Source: newsfilecorp.com
Commodities & Raw MaterialsCompany FundamentalsPrivate Markets & Venture
Agnico Eagle agreed to invest $14.8 million in Scout for a 14.9% stake at $1.50 per share, while The Electrum Group will invest $10.2 million to raise its ownership to 30%. The financing will fund exploration at the Cuddy Mountain and Speed Goat projects, as well as additional exploration assets.
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