Cadillac Mines Announces Filing of Second Quarter Financial Results With Over $300M of Working Capital Including Proceeds From Successful Initial Public Offering
(All amounts in Canadian dollars unless otherwise noted) TORONTO, Ontario, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Cadillac
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(All amounts in Canadian dollars unless otherwise noted)
TORONTO, Ontario, Aug. 13, 2026 (GLOBE NEWSWIRE) — Cadillac Mines Corporation (TSX: CADY) (“Cadillac Mines” or the “Company”) today announces that the Company has filed its unaudited condensed consolidated interim financial statements and related notes thereto, as well as its Management’s Discussion and Analysis (MD&A), for the three and six months ended June 30, 2026, and 2025. The 2026 second quarter financial statements and MD&A are available on the Company’s website at www.cadillacmines.com and have been filed on the Company’s profile on SEDAR+ at www.sedarplus.ca.
Cadillac Mines finished the second quarter with cash and equivalents of $72.1 million and no debt.
Subsequent to the end of the quarter, the Company announced the closing of its upsized initial public offering which consisted of a treasury offering by Cadillac Mines of 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 to Cadillac Mines. The Company also completed a concurrent private placement of 8,696,000 common shares of the Company to Agnico Eagle Mines Limited at $6.90 per share for gross proceeds of approximately $60.0 million.
As part of the transaction, a secondary offering was completed by certain shareholders of the Company which consisted of 36,236,700 common shares at $6.90 per share for gross proceeds of $250.0 million to the selling shareholders.
Rick Howes, Chief Executive Officer of Cadillac Mines, 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.”
When combining the Company’s quarter-end cash and equivalents with the proceeds from the treasury offering and the private placement, Cadillac Mines has over $300 million in working capital leaving the Company well positioned to advance its multiple value-enhancing initiatives including: exploration, permitting, environmental and engineering studies.
About Cadillac Mines
Cadillac Mines Corporation is a Canadian mineral exploration company advancing a growing portfolio of gold and critical mineral projects along the prolific Cadillac-Larder Lake Break in Ontario and Québec. Anchored by the historic Kerr-Addison Mine, the Company is focused on expanding its gold resource base, advancing the Geminid nickel deposit and unlocking the broader potential of its district-scale Abitibi land position. Through disciplined exploration, technical excellence and responsible development, Cadillac Mines is working to create lasting value for shareholders, communities and other stakeholders. For more information about the Company, please visit www.cadillacmines.com.
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities laws. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information includes, but is not limited to, statements with respect to anticipated future working capital requirements and anticipated development work. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, factors discussed under “Risk Factors” in the Supplemented Prospectus. Cadillac Mines undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Hannes Portmann, Chief Financial Officer
hportmann@cadillacmines.com
