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

Key TakeawaysAgnico Eagle has agreed to invest $14.8 million in Scout for 14.9% ownership, with The Electrum Group agreeing to invest $10.2 million to increase its ownership to 30%, at $1.50 per share. Funds will support exploration at Cuddy Mountain, Speed Goat, and additional projects.Agnico Eagle may earn up to 70% interest in Scout’s Elk City and Muldoon projects by funding up to $60 million and $30 million, respectively, over eight years in exploration expenditures, with approximately $9.4…

Source: https://www.newsfilecorp.com/release/314744/Scout-Discoveries-Announces-14.9-Strategic-Investment-by-Agnico-Eagle-and-an-EarnIn-Agreement-in-Idaho-Electrum-Increases-to-30-Ownership-in-Combined-US25-Million-Private-Placement