Cadillac Mines upsized IPO closes

General Motors — Cadillac, a Canadian mineral exploration company, completed its upsized initial public offering on the Toronto Stock Exchange under the symbol 'CADY'. The offering comprised 55,081,700 common shares at C$6.90 each and 6,303,000 special flow-through shares at C$9.52 each, raising total gross proceeds of approximately C$440 million. This included a treasury offering of C$190 million to the company and a secondary offering of C$250 million to selling shareholders, with the over-allotment option exercised in full. Concurrently, the company completed a private placement of 8,696,000 common shares to Agnico Eagle Limited for approximately C$60 million. The IPO was led by Bank of Montreal — BMO Capital Markets, National Bank of Canada Capital Markets, and Stifel Canada as joint bookrunners, with several co-managers. Pierre Lassonde acquired 1.5 million common shares in the offering, increasing his stake to approximately 13.18% of the company. The company, formerly Gold Candle Ltd., focuses on gold and critical mineral projects along the Cadillac-Larder Lake Break in Canada — Ontario and Canada — Quebec, anchored by the historic Kerr-Addison Mine and the Geminid nickel deposit.