Perpetua Resources secures $255 million from Agnico Eagle and JPMorganChase

Perpetua Resources Corp. (NASDAQ: PPTA) announced it has entered into agreements to raise $255 million in equity investments from Agnico Eagle Mines Limited and JPMorganChase, according to a company statement.

Agnico Eagle agreed to invest $180 million for 7,725,321 common shares, representing a 6.5% equity stake. The investment includes warrants to purchase up to 2,861,229 additional shares at exercise prices of $31.46, $34.95, and $38.45 over one, two, and three-year periods.

JPMorganChase committed $75 million through its Security and Resiliency Initiative to purchase 3,218,884 common shares, securing a 2.7% equity stake. The investment also includes warrants for up to 1,192,179 shares at the same exercise prices and timeframes as Agnico Eagle's warrants.

The private placement was priced at $23.30 per common share, matching Perpetua's closing price on October 24, 2025. The transaction is expected to close on October 28, 2025, subject to customary closing conditions including conditional approval from the Toronto Stock Exchange.

Perpetua plans to use the proceeds for development of its Stibnite Gold Project in central Idaho, exploration activities, working capital, and general corporate purposes. The company previously submitted an application to the Export-Import Bank of the United States for up to $2 billion in project financing in May 2025.

The companies will establish a joint technical and exploration advisory committee as part of the Agnico Eagle investment. Both investors will receive participation rights in future equity offerings under separate investor rights agreements.

JPMorganChase's investment represents the inaugural commitment from its $1.5 trillion Security and Resiliency Initiative, a 10-year program focused on industries supporting national economic security.

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