American Eagle Gold has launched a C$34.54 million equity financing comprising a C$23.04 million flow-through offering of 19.2 million FT shares at C$1.20 each and a concurrent offering of up to 14.94 million common shares at C$0.77. The flow-through shares will fund eligible Canadian exploration expenses and will be renounced to investors by year-end 2026.

Through his controlled vehicle, Eric Sprott has agreed to acquire approximately 19.2 million common shares at a back-end price of C$0.77 per share, representing a 9.9% pre-dilution equity interest. This C$23.04 million commitment marks one of Sprott’s rare copper-focused investments and establishes him alongside South32, Teck and Orecap as foundational shareholders.

Upon closing both tranches expected by March 20, 2026, American Eagle Gold will hold over C$50 million, fully funding its expanded 2026–27 drill program at the NAK copper-gold porphyry project in British Columbia. Proceeds will support ongoing exploration successes, additional high-grade zone testing and general working capital.

Previously, South32 and Teck secured equity participation rights allowing pro-rata involvement in future financings up to C$11.5 million, which could alter the concurrent offering size. Their decisions on participation will determine final ownership stakes and the extent of dilution for existing shareholders.